US multinational gobbles up £22m food group

A US-OWNED multinational food group has snapped up a £22m-turnover North West-based chilled food specialist.

Founders of Calder Foods Nigel Harrison and Paul Baker launched the Carlisle-based business in 2002 and had always intended to bring in another partner to invest in the business.

Deal advisers Avondale brought in Flagship Food Group, an American food service specialist. It was one of five offers, and one of two final decisions – one trade and one private equity.

Founding members Paul and Nigel, who will remain in their current positions as joint managing directors of Calder Foods and retain shares in the Flagship, said: “This is one of the toughest business and personal decisions we have ever had to make.

“Not only did Avondale bring the right acquirers to the table but they also coached us selecting the best offer and partner for the future of Calder. We are delighted to be joining the Flagship family.

“The partnership provides a golden opportunity to develop the Calder Foods portfolio, taking advantage of Flagship’ Europe’s wider customer base in the foodservice sectors to promote sales.”

Russell Maddock, chief executive of Flagship Europe, said: “Calder Foods has an exceptional reputation within the foodservice sector and their products will provide the perfect complement to our own portfolio of ‘Food to Go’ products for this marketplace. We look forward to a smooth transition and to further developing both the business and the ‘Love Fresh’ brand under the Flagship Europe umbrella.”

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