Private equity firm takes a bite out of Nottingham plant-based food producer

Private equity firm Flywheel Partners has taken a “substantial” majority stake in Nottingham-based Freshcut Foods, the producer of plant-based ingredients.

Freshcut supplies more than 300 products to over 40 customers that include leading foodservice brands, food manufacturers and online recipe kit providers. Established in 2003, the company employs over 320 staff across three manufacturing sites in Nottingham.

Avital Lobel, managing partner at Flywheel, said: “Freshcut Foods is a hugely exciting business with great potential for future growth. The Freshcut team are industry leaders with whom we share a common set of values and vision for the business. The growth that Freshcut has delivered in recent years is testament to the quality and relevance of its products to today’s foodservice and food manufacturing businesses and consumers. We expect the ever-growing awareness of the health, cost and environmental benefits of plant-based foods to continue driving future growth. We really look forward to partnering with Chris and the team at Freshcut.”

Chris Copestake, chief executive of Freshcut, said: “We are hugely excited to be partnering with Flywheel in the next stage of our growth journey, as we continue to provide customers with natural plant-based food solutions through industry-leading innovation. Flywheel Partners’ experience in the food sector, their entrepreneurial spirit and strong cultural fit makes them the perfect partner to help drive our development over the years ahead.”