Chiltern Capital has acquired a majority shareholding of FFF through a management buyout backed by the company’s CEO, Simon Leaver; head of finance, Mark Claridge; and commercial lead, Emma Hesketh.
A spokesperson from the business told Food Manufacture that the three senior members worked with the outgoing shareholders to find the right investor for the business that aligned with its values and culture.
“Chiltern demonstrated that they had a passion for UK agriculture and fresh produce and saw a need for long-term sustainable investment in the resilience of the UK food supply chain,” they said.
“Chiltern are the majority shareholder and recognise the need for a motivated and incentivised leadership team driving the business which is why they have brought in the senior team as equity holders.”
The deal sees FFF joining Chiltern’s portfolio which includes fellow potato and vegetable processor, Burgess Farms; opening up opportunities for the businesses to work together as part of Chiltern’s UK fresh produce group, focused on sustainable farming and production practices, long term investment in customers, growers and operations, and food resilience.
“The business will be working with Burgess Farms to explore additional opportunities with each business’ customers, share expertise and best practice, and further develop the ESG credentials of the group as a whole, building on work already done in regen ag, organic supply and renewable energy,” the FFF representative continued.
Leaver, who has been part of the business for 20 years, described the move as “an exciting moment for FFF”.
“My management team and I have chosen to invest in this next chapter ourselves because we believe in where the business is going,” he said.
“Our customers will see the same team, the same sites and the same commitment to quality and service – what changes is our ability to invest, with Chiltern’s backing, and the opportunity to work with Burgess Farms as part of a broader fresh produce group, giving us real momentum for the next phase of growth.”
That investment will be focused on further improving FFF’s customer offering and reducing its resource use.
Commenting on the acquisition, David Butler, partner at Chiltern Capital, said: “FFF is an outstanding business with an experienced management team, a strong reputation for quality and innovation, and long-standing relationships with customers and growers.
“We see significant potential to build on those foundations and are delighted to be backing Simon and his team. Together with Burgess Farms, FFF brings complementary expertise and builds on our fresh produce group’s genuine seed-to-shelf offering.
“We see exciting opportunities to invest across the group, strengthen its capabilities and support customers and growers as we continue to build a high-quality UK fresh produce supplier in a sector that is key to UK national resilience.”
Operating from Stanley Villa Farm near Preston (focused on potatoes) and Royds Farm in Leeds (processing vegetables and potatoes), the business supplies around 1,000 tonnes of fresh prepared produce each week.
The management team will remain in place and work closely with Chiltern Capital to ensure a smooth transition.