Tasty acquisition for food business
An Ossett-based food business has acquired an ingredients company to add to its liquids manufacturing division.
Newly Weds Foods has bought Jigsaw Foods, a leading manufacturer of sauces and butters based in Shirebrook, Nottinghamshire and Maryland in the US.
The firm, which last reported pre-tax profits of £4.4m on revenues of £118m, has its European HQ in Ossett. Its global headquarters opened in Chicago in 1932 and the firm also has manufacturing sites in Corby and Banbury, along with 17 sites in North America and 12 throughout India, China, Thailand, Australia and New Zealand which support food processor and food service operators in more than 80 countries. It produces food coatings, seasonings, sauces and functional ingredients for the food processing and food service industries.
Charles T. Angell, President of Newly Weds Foods said: “The addition of Jigsaw Foods is one more step in Newly Weds Foods strategy to grow the company’s global portfolio of liquid product capabilities. Along with the acquisition of liquids manufacturer Mullins Food Products just 18 months ago, Newly Weds is positioning itself very well to meet the needs and expectations of customers wanting to take advantage of this exciting flavor forward category.”
John Seely, director of Newly Weds Foods, added: “This acquisition of Jigsaw Foods is a perfect one as it will provide our customers with access to a new and expanded range of products, technologies and support.
“In order to ensure that this acquisition was concluded in a professional and efficient manner, we needed a law firm that not only had global expertise but could work seamlessly across multiple jurisdictions.
“Kennedys proved to be incredibly attentive in their approach, provided excellent service throughout the process and, ultimately, helped us complete this exciting acquisition.”
Manchester lawyers from the UK and US practices of global law firm Kennedys joined forces to act in the latest acquisition. Jim Hickey, the Chicago-based partner who led the deal for Kennedys, said: “Like Newly Weds Foods, Jigsaw is a privately-owned business whose success is built on delivering ingredient solutions to all types of food manufacturers and food service operators.
“They are a perfect fit and together promise to create a broader and more complete scope of innovative ingredient solutions for customers around the world.”
Christopher Williams, the senior associate in Kennedys’ Manchester office who managed the UK end of the transaction, added: “This deal showcased our ability to deliver a cross-border deal with a cross-border team covering a wide range of specialties, from corporate and employment law to property and health and safety.
“We see this ability to pull together expertise from across our network seamlessly as key to the continued growth of Kennedys’ corporate offering.”
