The deal for the balsamic vinegar manufacturer includes its manufacturing facility in Middlesex, which employs about 160 people.
William Jackson chief executive Norman Soutar said: “We’ve been looking to enter the fast-growing premium segment of the foodservice channel and believe this acquisition, in addition to our purchase of Wellocks earlier in June, has really exciting potential for the future.
“We’re a sixth-generation family business with 2,000 colleagues in great businesses nationwide and we’re delighted to be welcoming Belazu to the family. It’s an incredibly innovative business, and we’ve had our eyes on it for a number of years.”
The acquisition of Belazu is the second made by William Jackson this year, following its purchase of premium foodservice firm Wellocks in June. Earlier that same month, the company offloaded the Aunt Bessie’s brand to frozen food giant Nomad to the tune of £210m.
“The strategic sale of Aunt Bessie’s earlier in the year has enabled us to redefine the group for the next phase of its growth,” added Soutar.
“The group has been around for 167 years and has changed significantly during that time, and with each change our family shareholders have taken a long-term view to ensure a robust business remains in place for future generations.”
KPMG advisory partner Chris Stott, who provided financial and tax due diligence to William Jackson, said: “The Belazu team has built an excellent business focused on highly popular Mediterranean ingredients, which will be extremely complementary to the William Jackson stable.
“The continued trend of food and drink-related mergers and acquisitions activity in Yorkshire reveals underlying business confidence, but also reflects the strength and depth of the sector in the region.”
Meanwhile, snacks and drinks giant PepsiCo has revealed its intention to acquire premium crisp brand Pipers for an undisclosed sum, subject to approval by the Competition and Markets Authority.