No financial details about the deal have yet been released, with Paulig instead emphasising its desire to accelerate its growth within the world foods category.
Panesar is a family-owned company based in Tipton that employs 308 members of staff. As of 2023, it reported a turnover £59m.
Founded in 1992, Panesar’s range has grown to more than 750 products and the firm is now seen as a “market leader” within the production of sauces, salsas and condiments in the UK.
Paulig said that the acquisition combines its “flavouring expertise” within Panesar’s manufacturing and innovation capabilities as well as its ability to quickly bring products to market.
Also a family business, Paulig manufactures Tex Mex products, snacks, coffees, world foods and spices, and owns brands including Santa Maria, Risenta, Poco Loco and Zanuy.
Exporting to 70 countries around the world, it employs 2,200 people across 13 different countries and posted sales worth €1.2bn in 2023.
Long-running collaboration
Commenting on the deal, Paulig CEO Rolf Ladau said: “We have collaborated with Panesar Foods for 17 years, and we are very pleased to welcome the company to Paulig. Today, our combined taste expertise and innovation skills unite around a shared ambition: to accelerate our international growth and expand our World Foods offerings with sauces, salsas, condiments, marinades, and dips.”
Meanwhile, Bill Panesar, CEO at Panesar Foods, said the firm would retain its commitment to innovation and delivering high-quality while bringing products to market alongside Paulig.
“We are incredibly proud of our history and the remarkable growth we have achieved since our culinary journey began in 1992,” Panesar added.
“As Panesar Foods becomes part of Paulig, I am confident that our ambitions for international growth will be realised, and the business will continue to thrive.”
In other news, figures from across the food and drink manufacturing sector have reacted to the 2024 Autumn Budget, announced on 30 October by chancellor Rachel Reeves.
