UK-based egg supplier Noble Foods has strategically acquired domestic peer Just Egg to enhance its “added-value” product range.
Noble Foods is purchasing the business from Pankaj Pancholi and his family, who founded the company in 2003. Just Egg specializes in shell eggs for retail, alongside hard-boiled, poached varieties, and mayonnaise.
Pancholi expressed in a joint statement with Noble Foods: “This business has been my life’s work and I’m incredibly proud of what our team has achieved. As I step back, I do so with confidence knowing Just Egg is joining Noble Foods – a company that shares our values and passion for quality.”
In a LinkedIn post, Pancholi remarked: “[The] last 10 years have been a rollercoaster ride but we held our head above water, defying all odds.”
Noble Foods considers Just Egg a “natural fit” for its portfolio. The acquisition, made for an undisclosed sum, “supports our long-term strategy to grow and diversify, enhancing our capacity to serve customers and expand our business.”
Duncan Everett, CEO of Noble Foods, emphasized: “The business Pankaj and his team have built is one we deeply respect, and we’re committed to preserving the quality, service and care their customers value so highly.”
In another LinkedIn post, Everett noted the acquisition introduces “new technologies, capabilities, and customers as we continue to grow and develop Noble Foods.”
Just Egg operates from a 15,000-square-foot purpose-built facility in North Leicester, featuring designated office, storage, and processing areas.
Noble Foods has recently invested in expanding its capabilities. Last year, it invested in an “added-value” manufacturing site in Leicestershire to produce a new range of prepared egg products.
The head of the added-value business, Will Cadbury, said that the company intends to invest a “multi-million” sum over the next few years at the facility. The 10,000 square-meter plant is designed to produce an array of foods, including omelettes, egg bites, and frittatas.
In its most recent accounts filed with Companies House, Noble Foods reported a £11.7m ($15.8m) loss after tax and a turnover of £290.3m for the year ending 29 September 2023.
The company attributed these figures to a “challenging year” marked by “significant” cost inflation and supply chain disruptions amid a “volatile” macroeconomic environment.
In 2022, Noble Foods experienced a £13.5m loss with a turnover of £269.1m.
