Samworth Brothers acquired the West Cornwall Pasty Company for an undisclosed sum in January, expanding the manufacturer’s pasty market share in Britain.
Samworth purchased the company from private equity group Endless’s Enact business fund, which bought the pasty firm after it fell into administration in 2014.
West Cornwall Pasty Company was the first investment made by the Enact Fund and is also its first disposal. Endless expected the sale would deliver a five-and-a-half times return for investors.
Samworth Brothers Group chief executive Alex Knight said: “This acquisition provides a great extension to our hot food-to-go capabilities and gives us another outstanding platform to develop our offer in this area.”
The sale will see the Ginsters owner take control of West Cornwall Pasty Company’s 33 outlets in the UK, as well as 19 franchised shops in Moto service stations.