Food logistics firm buys family-owned business
S J Bargh’s turnover increased to more than £40M after the acquisition of 120-year-old family run business.
Bassett director Claire Bassett said the decision to sell was made as the owner directors approached retirement age.
The sale brought to an end of five generations of family control of the business.
Bassetts employs 100 people at its 11-acre site in Staffordshire and for the year to March 2015, had pre-tax profits of £285,000 on a turnover of £8.7M.
Turnover of £8.7M
The sale of the company was advised by the Leeds corporate team of law firm Mills & Reeve.
Mills & Reeve corporate partner Paul Johnson said: “The deal will ensure the Bassetts name will continue and the family can rest assured that the company is in the hands of a thriving business which shares its beliefs and values.”
Bargh md Anthony Finlayson-Green said the two companies had much in common and the sale would be beneficial to customers of both companies.
“The customers of both companies will also benefit as together we offer greater scale with a larger team, more vehicles and warehousing, and a host of complementary services,” said Finlayson-Green.
Lancaster-based Bargh specialises in milk collection and distribution and its customers include Arla Foods, Joseph Heler, and Müller Milk.
More than 500 employees
The group has more than 500 employees across the north west and Midlands, along with 1,148m2 of warehousing.
Meanwhile, luxury biscuit and cracker manufacturer Thomas J Fudge’s (TJF’s) ended 100 years of family ownership last month, after a management buyout with the help of investors.
The investment of an undisclosed amount came from midmarket private equity business Livingbridge, which TJF’s hoped would take the company closer to its goal of becoming the UK’s top premium biscuit brand
The company, which has 133 staff working at its site in Stalbridge, Dorset, supplies to many supermarkets including Waitrose, Morrisons and Tesco.
