PDT advise Flagship Europe on the acquisition of Oliver James and Proper Pies
Published: 05 October 2016
"Acquiring two companies based in two locations at the same time was never going to be straightforward but, as ever, I knew the team at PDT would not be fazed by the issues and each step of the way was handled with the same professionalism, efficiency and care they have demonstrated on previous transactions. We use pdt because they understand food businesses so when issues arise they are able to quickly deliver workable solutions. 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
PDT’s corporate team was delighted to have advised Flagship Europe on its recent acquisition of Oliver James Foods Limited and Proper Pies Limited. PDT has acted for Flagship Europe (formerly Atlantic Foods Group) since 2006. The combined turnover of Flagship Europe following the acquisition exceeds £85M.
Flagship Europe is a leading supplier and manufacturer of innovative menu solutions to the UK foodservice market. It serves many of the leading casual dining, delivery and pub chains in the UK including Mitchells & Butler, Pizza Hut, Greene King, Whitbread and Domino’s Pizza. It has also recently become the UK food service distributor for Tabasco.
Based in Southam, Warwickshire, Oliver James is the UK’s leading specialist producer of “sous vide” cooked foods. Food entrepreneurs Kevin Morel and Martyn Thomas learnt the French process of sous vide whilst working with the Roux brothers. Proper Pies operates as a separate business from premises in Redditch and produces high quality pastries, bakes and pies.
Commenting on the acquisition, Russell Maddock, CEO of Flagship Europe, said: “Oliver James and Proper Pies represent a perfect fit for our company. Flagship is an out and out food service business so the introduction of two new product categories will provide the perfect addition to Flagship Europe’s current range of branded and bespoke products. The integration of Oliver James and Proper Pies into our business will further enhance Flagship’s reputation for supplying high quality products, menu innovation and excellent customer service.”
Noel Ruddy, Head of Corporate at PDT, said, “This transaction is a fantastic result for all involved. Oliver James and Proper Pies are 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 at PDT, said, “We were delighted to be able to work with Russell and the Flagship team on this project. Joining the Flagship family will enable Kevin Morel and his team to grow the businesses 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.”
The content of this webpage is for information only and is not intended to be construed as legal advice and should not be treated as a substitute for specific advice. PDT Solicitors LLP accepts no responsibility for the content of any third party website to which this webpage refers.