Freshcut Foods acquired in management buyout

By Gwen Ridler

- Last updated on GMT

Fruit and veg supplier Freshcut Foods has been acquired in a management buyout
Fruit and veg supplier Freshcut Foods has been acquired in a management buyout

Related tags Leveraged buyout Nutrition

Fresh fruit and vegetable supplier Freshcut Foods has been acquired by chief executive David Bondi in a management buyout, for an undisclosed sum.

Bondi has purchased the company from owner-managers Adam Clarke and Peter Clee, who will continue to support the business. The acquisition was helped by investment from private equity firm Perwyn.

Bondi said: “I am delighted that we will be working with Perwyn for the next phase of Freshcut’s development.

“We will continue to work with customers and suppliers in the same way as we always have, to the mutual benefit of all, including the growing number of Freshcut employees.”

Natural fit with Freshcut

Commenting on the acquisition, Clee and Clarke said they found Perwyn’s culture and values a natural fit with Freshcut.

“We are both delighted that the relationship has culminated in an investment support for the management team at Freshcut, endorsing an exciting future for the company,”​ they said.

Freshcut supplies added-value vegetables, fruits and carbohydrates to food manufacturers and foodservice operators in the UK and is deeply integrated into the supply chain of its customers.

The company employs about 250 members of staff across two manufacturing sites near Nottingham.

Heinz Holsten, a partner at Perwyn, added: “We are delighted to be partnering with Freshcut as we help support the next chapter in its growth story.

‘Provide healthier products’

“Freshcut is well placed to enable its customers to provide healthier products that consumers are increasingly seeking out.”

Last month saw a number of acquisitions within the food and drink industry.

Dairy group Meadow Foods acquired edible oils business Roil Foods for an undisclosed sum in a bid to expand its dairy products portfolio.

Meanwhile, SHS Group, the Belfast-based owner of sparkling juice drink Shloer and alcopop WKD, acquired the majority shareholding in the 3V Group, for an undisclosed sum.

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