Tasty deal as food group snaffles up ingredient supplier
Hull-based William Jackson Food Group, which recently sold its Aunt Bessie’s product range in a £210m deal, has acquired a North West ingredients supplier.
The 167-year-old family business, William Jackson, is a £300m-turnover food group supplying into both the retail and food service markets through brands including online organic grocery delivery business Abel & Cole, bakery Jacksons, The Food Doctor and MyFresh.
It has now purchased Wellocks, a £50m-turnover company which supplies a range of high-quality fruit, vegetables, dairy, meat and dried store ingredients to a national customer base of Michelin star restaurants, premium casual dining chains, 5* hotels and premier league football clubs.
Wellocks, which employs around 470 people nationwide and is headquartered in Lancashire, operates from four locations and makes over 6,000 nationwide deliveries a week via its own fleet of temperature-controlled vehicles.
Norman Soutar, CEO of William Jackson, said: “We are a sixth-generation family business and are delighted to be welcoming Wellocks, a business we have admired for many years, to the family. We’ve been looking to enter the fast-growing premium segment of the foodservice channel and believe Wellocks, which has itself enjoyed recent growth, has really exciting potential for the future with its great customers and really innovative suppliers.”
Shareholder and managing director at Wellock’s, James Wellock said: “We’re really excited to be joining a family business which understands what Wellocks is all about and has family values very similar to our own. I am delighted to have found a buyer who values the philosophy of Wellocks and who will help to continue its strong growth. Orbis’ advice and guidance throughout the process has been invaluable and has helped to deliver an excellent result.”
Orbis Partners completed the deal. Gary Ecob, partner from Orbis, said: “Wellocks is a market leader in its sector and I am delighted to have concluded a deal that recognises the Company’s strategic value. With our knowledge of the sector, we were able to identify William Jackson as a strong strategic buyer given its diversified portfolio and acquisition strategy.”
As part of the deal, James Wellock will continue to work within the business. Legal advice to Wellocks was provided by DLA Piper.
