Gressingham Group recently announced a strategic acquisition, guided by financial consultancy MHA, which enhances its expanding portfolio in the UK food manufacturing sector.
The founders of Central Food, Gordon and Alison Lauder, will maintain their involvement in the business during a transitional phase, as the current staff take on new management roles. This approach is designed to ensure continuity and stability throughout the process.
Gordon and Alison Lauder commented on the sale, stating: “We believed it would be a challenging brief to identify a partner which would complement Central Foods’ business, safeguard our culture, and offer security and progression opportunities for our staff.”
‘Significant milestone’
“We placed our trust in the MHA team who consistently provided incisive commercial advice and hands-on support with detailed aspects of the negotiation. The MHA team’s proactive communication and collaborative approach was fundamental to ensuring we reached this significant milestone.”
Central Foods, which has generated revenues exceeding £50 million, has been supplying branded and own-label frozen food to the UK hospitality industry since its founding in 1996. Its client roster includes major players like Bidfood, Brakes, Whitbread, and Greene King.
William Buchanan, director of Gressingham Group, expressed enthusiasm about the acquisition: “We are excited to bring Central Foods into Gressingham Group.” He further emphasized, “The business opens up a new market category for us and its reputation for excellent products and service complements our existing presence in the foodservice sector. We look forward to continuing to make frozen food wholesalers’ lives easier.”
Wholesale specialists
Headquartered in Suffolk, Gressingham Group is a national food producer and wholesaler, known for its retail brand Gressingham duck, as well as its foodservice specialists, including Reids of Norwich, JF Edwards, and Peter Thomson Group.
James Lawson, partner at MHA Corporate Finance and lead on the transaction, remarked: “Our process garnered interest from a number of potential strategic acquirers on an international basis; however, Gressingham Group’s complementary UK market reputation and similar culture set it apart.” He added, “It’s heartening to know we have helped deliver a transaction which enables the founders to achieve their personal objectives, and we are certain this new partnership will see Central Foods and Gressingham Group continue to go from strength to strength.”
