The purchase of the Scottish firm will take the combined turnover of the KTC Group to more than £550m and further strengthens its value-added processing capabilities while broadening its product offering.
KTC plans to build upon Cardowan’s “well-invested platform” laid down by previous owners the Kyle family by continuing investment in the Glasgow site to increase capacity and drive sales growth.
Commenting on the acquisition, Cardowan chairman and owner John Kyle said: “As a longstanding family business with a rich heritage, it was crucial to find the right home for Cardowan – we have found this in KTC, who are an excellent cultural and business fit.
“This deal represents an exciting opportunity to accelerate Cardowan’s strategic growth plans and is a compelling addition to KTC.”
KTC edibles chief executive said the purchase of Cardowan was would provide the group opportunities to expand its offering and service to its customers.
“I would like to thank John Kyle and Lesley McGhee for their support throughout the process and congratulate them on building a worldclass business,” he continued.
“We recognise the importance of the company’s heritage and production methods that have been nurtured for almost a century, and we look forward to welcoming the Cardowan team into the KTC family.”
Supplying to the UK and internationally
Established in 1930, Cardowan supplies more than 20,000 tonnes of margarine annually to manufacturers and wholesalers across the UK and internationally. Its products are all vegan and Roundtable of Sustainable Palm Oil certified.
Aidan Robson, partner at KTC owner Endless, added: “We are delighted to be supporting KTC with its acquisition of Cardowan and we hope this is the first of many acquisitions KTC will be undertaking over the coming years.
“Cardowan will help grow the sales and volume of the group, as well as broadening the offering to all existing KTC customers.”
Meanwhile, in other acquisition news, Dunbia has expanded its presence in the West Country with the acquisition of lamb processor H R Jasper & Son in Cornwall for an undisclosed sum.