UK convenience food supplier Around Noon has secured a minority investment from Belfast-based fund manager Whiterock. While the exact value of the investment remains undisclosed, a representative from Around Noon said that it constitutes a “multi-million investment.”
This strategic move aims to bolster Around Noon’s growth trajectory in the competitive food and beverage industry. Established in Newry, County Down, this Northern Ireland food-to-go business provides a diverse range of products, including chilled, frozen, and heated sandwiches, wraps, salads, and fruit pots, catering to clients across the UK and Ireland.
Around Noon anticipates that this funding will facilitate its “next phase of growth,” enabling significant scalability. Although further details regarding these plans remain under wraps, the company’s spokesperson confirmed last year’s revenue stood at approximately £81 million ($110.2 million). Recent accounts filed with Companies House indicate a turnover of £26.4 million for the year ending December 31, 2024, a slight decline from £27.5 million the previous year.
Founded in 1989 by the Chambers family, Around Noon operates its manufacturing plant in Newry alongside production facilities in Slough and north London. The company boasts three sites in Newry, which include a bakery, as well as a consolidated plant in Slough following the merging of two facilities.
CEO Gareth Chambers stated, “We see huge growth opportunities in the UK and Ireland, and taking on equity backing will be incredibly helpful to us in being able to scale significantly.” He expressed gratitude to the Whiterock team for their support, emphasizing their role in facilitating Around Noon’s ambitious growth plans.
Around Noon distributes “more than four million” products monthly across various sectors, including convenience channels, supermarket retail, coffee shops, and garage forecourts. The company also serves the travel, education, and catering sectors.
Whiterock, which manages over £255 million in assets across five funds, is committed to investing in SMEs. CEO Paul Millar commented, “Around Noon is an incredible story of Northern Ireland business success and a company that is truly respected in the food-to-go sector. We are extremely pleased to partner with Gareth and the team to help them realize their ambitions for further growth.”
The business has expanded through mergers and acquisitions, recently securing The Soho Sandwich Company in 2023. Previous acquisitions include Simply Fit Food in 2020 and Chef in a Box in 2017, illustrating its proactive approach to adapting to evolving food and drink consumer trends.
In summary, Around Noon’s strategic partnership with Whiterock positions the company for continued success in the dynamic food and beverage industry, harnessing both funding and expertise to achieve its growth objectives.
