Management buy-in at fine foods supplier
A Royal Warrant-holding luxury cured meats specialist has changed hands as part of a management buy-in.
Dukeshill, based in Shropshire since it was founded in 1985, has been led by Neale and Sarah Hollingsworth since 1998.
Dukeshill holds the Royal Warrant as manufacturer and supplier of ham to HM the Queen.
The company produces and supplies a range of premium quality fine foods direct to the consumer via both online and mail order and to select high end trade partners.
The management buy-in team comprises executives Mark Gallagher and Andy Culhane of GC Investment Partners along with chairman Des Smith, former CEO of Aspall Cyder.
Neale and Sarah Hollingsworth will remain with the business and work alongside the new owners for the foreseeable future.
Gallagher said: “Neale and Sarah have done an incredible job over the last 23 years, creating a brand that is synonymous with the highest quality products and excellent customer service. We strongly believe in the potential of Dukeshill to become the UK’s leading fine foods brand and we are committed to maintaining the company’s core values in order to achieve this as we work alongside Neale, Sarah and the incumbent team in the next phase of the company’s development.”
Neale Hollingsworth, managing director of Dukeshill, said: “We are proud of what we have achieved at Dukeshill and the support we have had from such a fantastic team. It was extremely important for us to feel that we have selected buyers who share our ethos of quality in both products and service; we wish the new owners well for the future as Dukeshill continues to grow its portfolio of fine foods and its loyal customer base”.
Ben Bolt, partner, and Tom Hammond, executive, at Springboard Corporate Finance advised the shareholders of Dukeshill on the deal.
Bolt said: “Dukeshill is a business built on impeccable brand values and luxury, provenance rich products that have seen it increase revenues year on year for more than a decade. We are delighted to have assisted Neale and Sarah in realising value for their life’s work and wish the new owners all the best as they develop the business further”.
Ed Dawes, partner at Keystone Law provided the shareholders of Dukeshill with legal advice with the acquirers advised by David Davidson, partner at Burness Paull and Alex Judd, senior manager at Buzzacott.
