Flagship Food Group Closes Deal With Atlantic Foods Group
Flagship Food Group of the US has moved into Europe with the acquisition of Atlantic Foods Group, a leading supplier and manufacturer of menu solutions to the UK food service market. The transaction will bring together two businesses focused on developing, sourcing, manufacturing, and distributing a wide range of innovative food products for retail and restaurant customers.
With annual sales in excess of £50 million, Atlantic Foods serves many of the leading casual, delivery, and pub chains in the UK. The acquisition bolsters Flagships’ international presence while adding an impressive line-up of food service products and customers. The combined business is expected to generate approximately $300 million in annual turnover, operating seven facilities in five time zones. Terms of the proposed transaction were not disclosed.
Rob Holland , chief executive of Flagship Food Group, says: “The acquisition represents an excellent opportunity for us to further develop our global food business, building on the successful acquisitions we have achieved to date. It will provide new competencies for us in the fast growing food-service markets and extend our geographic footprint into Europe.”
Russell Maddock and Edward Baker will remain in their current capacities as chief executive and managing director, respectively, of Atlantic Foods. Russell Maddock comments: “We expect very little to change, other than that we now have more resources and support to fuel our mission of becoming a premier, food service-focused, collaborative supplier partner to our customers across Europe.”
