BDO brings home the bacon for food firm
A COVENTRY food company has been acquired by the UK subsidiary of two European meat processors in a cross-border deal advised out of Birmingham.
Becketts Foods is the largest independent manufacturer and supplier of bacon products to the foodservice sector.
The firm, based at Alderman Green Industrial Estate, has been acquired by CPC foods. The terms of the deal have not been disclosed.
The deal was advised by the Birmingham Corporate Finance team at BDO, which provided lead advisory and due diligence services to CPC Foods, which is a joint venture set up by two European meat processors. Mills & Reeve provided legal advice to CPC.
Satvir Bungar, corporate finance director at BDO, said: “There is real appetite for international, cross border transactions and we continue to see increased consolidation in the food manufacturing sector. We were delighted to be involved as lead adviser on this deal.”
Peder Toft Fensvig, director CPC Foods, said: “BDO did very well to tackle the complex issues and the lead advisory input was superb. The Mills & Reeve team, led by Julian Smith, had a very professional and constructive way of working and handled the deal like top professionals.”
Becketts’ clients include: hotels, cruise liners, restaurants, pubs, motorway cafes, in-store cafes and holiday resorts. It also has a retail arm with products supplied to customers including butchers, delicatessens, supermarkets and delivery vehicles.
