FDBusiness.com

West Cornwall Pasty Co Acquired by Samworth Brothers

 Breaking News
  • Irish Distillers to Invest €150 Million in Sites in Cork and Dublin Irish Distillers has announced investment of over €150 million in its sites in Cork and Dublin to meet demand for its products as the Irish whiskey renaissance continues apace. This is accelerated by the continued growth of the company’s flagship Jameson brand, which is now in double or triple-digit growth in more than 80 markets [...]...
  • Kepak Sweeps Up Seven Awards at Blas na hEireann Irish meat processor Kepak Group has picked up seven awards at this year’s prestigious Blas na hEireann Irish Food Awards, including a Gold award for its newly launched Centra Irish Angus Sirloin Steaks with Pink Peppercorn Butter. As one of Europe’s leading food innovators, Kepak was up against the top Irish producers in a range of distinct [...]...
  • Chr. Hansen Acquires Dairy Ingredient Supplier Through the acquisition of Austrian-based ingredient supplier Österreichische Laberzeugung Hundsbichler, Chr. Hansen will further expand its enzyme production and presence into the traditional segments of specialty cheeses. Hundsbichler products are widely recognized for high quality, and this acquisition will enable Chr. Hansen to offer cheesemakers a second-to-none product portfolio in the animal rennet space. The acquisition [...]...
  • Croxsons Pulls Out All the Stops For HMS Spirits Company Leading glass packaging company, Croxsons, recently came to the aid of start-up artisan gin distiller, the HMS Spirits Company, to fulfil an urgent packaging requirement. The distiller had found itself without a closure for its latest release, Mary Rose Gin, a small batch London Dry Gin produced to celebrate Henry VIII’s famous warship. The distiller, who [...]...
  • Mains Overtaking Bottled Water Coolers in West Europe 102,500 more water coolers were installed across West Europe in 2017, marking a 3.4% increase and taking the total to 3.1 million, according to a new report from the sector’s leading specialist consultancy Zenith Global. The number of mains water, point of use coolers rose by 6.2% to reach 46.9% of the total, up from [...]...

West Cornwall Pasty Co Acquired by Samworth Brothers

West Cornwall Pasty Co Acquired by Samworth Brothers
January 06
09:19 2017

West Cornwall Pasty Co, the UK food-to-go specialist, has been sold to Samworth Brothers, the convenience food group, for an undisclosed sum by Enact, the private equity business. West Cornwall Pasty Co, which operates across a wide range of travel and high street locations and has flagship trading partners such as Moto and the RFU, has been sold following its successful turnaround over the last two and half years.

West Cornwall Pasty Co was the first investment made by the Enact Fund in April 2014. Since that time the management team, led by executive chairman Chris Peck, have taken the business from strength to strength – quadrupling profitability, extending the product offering and undertaking a major overhaul of the brand. This exit marks the first realisation by the Enact Fund and delivers a 5.5x return to investors.

Chris Cormack, investment director at Enact, says: “Having been involved since our initial investment in West Cornwall Pasty Co we are delighted to have seen the transformation and growth of the business that has seen us exit to Samworth Brothers. We are incredibly proud of the work that has been done, initially to ensure the stability of the company in 2014, and since then to create a thriving business, capable of great things in the future. Chris Peck, Tony Keating and Leigh Dale have been an excellent management team that we have greatly enjoyed working with and we wish them all the best for the future.”

Richard Armitage, chief financial officer of Samworth Brothers, says: “We are delighted to be able to bring the West Cornwall Pasty Co into the Samworth Brothers family of companies. We are able to offer many opportunities for the future growth of the business and an exciting future for our new colleagues.  Enact has done a great job of nurturing the business since 2014 and we are confident of being able to continue their good work.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 18, 2018Future Food-Tech London - Marketing Partnership
  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements