R&R Ice Cream scoops up Fredericks Dairies
FAMILY-owned ice cream maker Fredericks Dairies has been sold for £49m to R&R Ice Cream, the pan-European Yorkshire-based group.
Skelmersdale-based Fredericks, which makes ice creams and lollies for major food brands including Cadbury, Del Monte and Britvic, and was the sole supplier to the 2012 London Olympics. Last year sales were £45m.
Vendors Frank and Phillip Frederick were advised by Stuart Moss and Neil Mitchell of Manchester-based corporate finance firm Rickitt Mitchell and Danny Hall and Alistair Cree of law firm Eversheds.
The Fredericks are retaining their Freezeserve cold storage and distribution business based at Simonswood, Lancashire.
With its UK headquarters in Northallerton, North Yorkshire, R&R Ice Cream is Europe’s largest own label ice cream manufacturer and is best known for its Fab and Skinny Cow brands.
The deal is conditional upon clearance from the Office of Fair Trading.
James Lambert, chief executive and executive chairman of R&R Ice Cream, said: “I am very excited about acquiring this successful business whose popular licensed products will prove valuable additions to our branded portfolio.
“It will also enable R&R to extend its successful partnership with Mondelez International into the UK. Fredericks is already launching a cone and 500ml super premium tub under the Oreo brand and this acquisition will allow us to accelerate this successful innovation programme alongside our popular Nestle, Cadbury, Kelly’s and yoo moo brands.”