Acquisition takes big bite out of pie market
The Compleat Food Group has agreed the acquisition of Cheshire pie maker Wrights Food Group.
Wrights employs 600 people and generated £54m sales last year, through its sales of pies to one in three Football League clubs, 30m cookies, as well as ready meals and sandwiches.
The Compleat Food Group was formed through the merger of Nottingham-based savoury products maker Addo Food Group and Winterbotham Darby in January.
The acquisition of Wrights, for an undisclosed sum, adds range to its foodservice channel and expands the Compleat’s customer base.
Paul Monk, executive chair of The Compleat Food Group, said: “This move enables us to better serve our customers and offer a greater range of products, helping the group to further strengthen its position in UK retail and food service.”
Peter Wright, chairman of Crewe-based Wrights Food Group, said: “This business has been built on the foundations of family values, quality and providing the best possible service to our customers.
“Our merger with the Compleat Group is a decision which we feel builds on the legacy which the Wrights family has worked so hard to create over 96 years.
“Becoming an integral part of a larger group is good news for everyone involved. We are looking forward to a future of further growth and the natural expansion of our much loved and highly valued Wrights products and brand.”
The Compleat Food Group was advised by Alvarez and Marsal, Dickson Minto and Houlihan Lokey. Wrights Food Group was advised by Oghma Partners and Knights.