The Liverpool-based buyer said the Glorious! brand’s strong growth, coupled with Scunthorpe-based TSC’s strength in the foodservice sector were key factors attracting it to the business.
A spokesman for the family-owned The Billington Group told FoodManufacture.co.uk: "Really our long term strategy is to become a major player in the food market and foodservice is one of the areas we are particularly focused on.”
In addition to its strong presence in the foodservice market, TSC makes chilled and frozen products for retail and business-to-business customers.
The Billington Group confirmed that TSC, which has been sold by private equity house Key Capital Partners, would continue trading as normal with all 400 employees remaining at its north Lincolnshire site.
“This is a fantastic acquisition for the group; we believe that TSC Foods is a perfect fit for our long term strategic vision,” said The Billington Group ceo Gary Blake.
“This is an exciting time for both The Billington Group and TSC Foods as we look forward to successfully delivering our strong customer focus and sharing our passion for innovation, quality and customer service.”
Commenting on joining the group, TSC Foods md David Bondi said, “This is a fantastic move for TSC and we are delighted to join a family owned company that is focused on the food sector.
“We have grown significantly over recent years with a focus on innovation, quality and service to all our customers and are proud to continue that success as part of a larger group.”
TSC will join the group’s food division alongside current businesses, including English Provender Company, Bar Foods and Billington Food Ingredients.
Hill Dickinson provided legal advice to Edward Billington and Son. Grant Thornton provided corporate finance advice and tax advice to the company and Barclays Corporate Banking in Liverpool helped finance the deal.