PDT advise Flagship Europe on the acquisition of Calder Foods
Published: 25 October 2016
"I must congratulate the team at PDT without whose support, expert guidance and sheer determination this deal would not have happened. PDT is a very special business and has played a huge part in the success of Flagship Europe for which I am hugely grateful. It’s always a pleasure working with Noel, Rebecca and the pdt team, and in getting this deal over the line I would like to thank them all for their hard work, help, support and advice. It means a lot to Flagship."
Russell Maddock, CEO, Flagship Europe
Following the purchase of Oliver James Foods and Proper Pies last year this acquisition represents the third strategic acquisition made by Flagship and cements its position as a leading UK manufacturer in the food service sector. The combined turnover of Flagship Europe now exceeds £100M, employing 350 staff across five sites.
Flagship Europe is a manufacturer of innovative menu solutions to the UK foodservice market. It serves many of the leading casual, delivery and pub chains in the UK including Mitchells & Butler, Pizza Hut, JD Wetherspoons, 3663, Greene King, Whitbread and Domino’s Pizza. It is also the UK food service partner for Tabasco.
Based in Carlisle, Calder Foods manufactures and produces a range of sandwich fillings, salads, sauces, marinades, dips and mayonnaise under their own brands, Love Fresh and Love Sauces, and private labels. Food entrepreneurs Paul Barker and Nigel Harrison started the business over 20 years ago and will continue in their current positions as joint managing directors.
Commenting on the acquisition, Russell Maddock, CEO of Flagship Europe, said: “Calder Foods is another perfect fit for our company. Flagship is an out and out food service business so bringing on board the range of products, skills and expertise which Nigel and Paul have at Calder Foods presents us with opportunities to exploit the fantastic synergies between our businesses which we identified as the reason for this merger. The integration of Calder Foods into our business will strengthen our position in the “Food to Go” marketplace and mean we can offer a wider, more diverse range of services to our customers.”
Noel Ruddy, Head of Corporate at PDT, said, “This transaction is a fantastic result for all involved. Calder Foods is an excellent fit within the Flagship portfolio of food service businesses, and will enhance the Flagship brand and geographic footprint. This was a complex project which presented many interesting challenges for us, but it is always a rewarding experience when the outcome is such a success.”
Rebecca Glazebrook, who led the corporate team, said, “We were delighted to be able to work with Russell and the Flagship team on this project. Joining the Flagship family will enable Paul and Nigel to develop the Calder Foods portfolio with the support and backing of a company with the same passion for food and food service. We wish them every success and look forward to working with them again in the future.”
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