Food & Beverage
Spayne Lindsay advises Samworth Brothers on the acquisition of Soreen.
Spayne Lindsay is delighted to announce the acquisition of Soreen by Samworth Brothers (“Samworths”) for an undisclosed amount. Spayne Lindsay acted as corporate finance advisor to Samworths on the transaction.
Soreen is a unique branded business producing a famous bakery range of malt and fruit loaf and snacking products and can be found on the shelves of all the UK’s high street supermarkets. The business manufactures products from a high quality site in Manchester. The sticky and squidgy loaves are the UK’s favourite malt loaf, made to a top secret recipe and loved by the nation.
Lindsey Pownall, CEO of Samworth Brothers, commented:
“It is with great delight that I extend a very warm welcome to Paul Tripp, Managing Director of Soreen and his team. Paul and the team have been running a very successful business and we consider ourselves fortunate to be able to buy such an exciting opportunity. The acquisition of Soreen broadens our platform by moving us into new territory, i.e. ambient branded goods and it satisfies our preference for finding businesses with established management teams.”
Samworth Brothers is a fourth generation family company with 13 businesses producing high quality chilled foods for the British market, employing over 8,000 people in well-invested, modern sites in Leicestershire and Cornwall.