110 year-old produce firm expands with cross-Pennine acquisition
LEEDS produce wholesaler Gilbert Thompson has acquired Sharrocks Fresh Produce of Preston, in a move that will see it expand across the Pennines.
Following the acquisition, Gilbert Thompson employs 150 staff at its Leeds, Sheffield and now, Preston.
The newly purchased Lancashire business will continue to trade as Sharrocks Fresh Produce Limited.
The Gilbert Thompson group is fourth-generation family business, founded in 1905 by a 13 year-old Gilbert Thompson, consisting of GT Produce and GT Flowers.
It provides vegetables, flowers and plants from its headquarters at the Yorkshire Producer Centre in Leeds, with a supplementary depot in Sheffield.
With the acquisition of 100 year-old firm Sharrocks, also a fourth generation family business, Gilbert Thompson will be able to supply customers throughout the North of England.
Gilbert Thompson is run by brothers Richard and Daniel Thompson, who have succeeded their father, grandfather and great-grandfather in running the business.
Daniel Thompson, who will take over as managing director of Sharrocks, said: “We are delighted to have bought the Sharrocks business and guarantee its future for hopefully many more generations to come.
“As a longstanding family business ourselves, we share the same values as the Sharrocks team and also the same commitment to delivering the highest quality produce and service.
“We want to reassure the customers, suppliers and associates of both companies that there will be no disruption to either business and together we hope to be better than the sum of the two parts.
“For example, as a larger business we will have increased buying power and should be able to secure preferential prices.
“We will also be able to extend the breadth of the current Sharrocks’ offer by adding flowers, plants and in-house prepared vegetables to their product portfolio.”
Paul Whittle, former owner of Sharrocks, said: “We feel that Gilbert Thompson is the ideal company to take over the running of our business. Like us, they have decades of experience and know the wholesale produce industry inside out.
“It secures the jobs for our team of nearly fifty staff and I feel confident that the business will continue to go from strength to strength.”
The Gilbert Thompson Group was advised by Shulmans LLP, with funding for the deal provided by a new facility from HSBC Bank PLC. Sharrocks were advised by Farleys Solicitors LLP and Mary Whittle of Whittles Chartered Accountants.
