Acquisition of Deeside Cereals by Elysian Capital LLP

DATE
September 2021

TRANSACTION TYPE
Corporate acquisition

VALUE
Undisclosed

SECTOR
Food & Beverage

Spayne Lindsay is delighted to announce that it has advised Elysian Capital on the acquisition of Deeside Cereals from Agrotech Impex PTE Limited, by its investee company, Wholebake Limited.

Based in North Wales, Deeside Cereals is a leading manufacturer of innovative private label breakfast cereals and cereal bars for leading food retailers.

The acquisition will bring together Wholebake and Deeside Cereals to form a new combined group operating in the bar and cereals categories.

The combined group will be led by Peter Unsworth (Non-Executive Chairman) and Simon Faithful (CEO), who will focus on innovating and driving growth in both the expanding snack bar category and own label cereal market.

Ken Terry at Elysian Capital, said:

“I am delighted we have been able to bring Deeside and Wholebake together, in line with our stated strategy of growing our businesses both organically and through opportunistic acquisition. By combining the two businesses we believe we have created the premier contract manufacturer of snack bars and cereals in the UK and diversified the Group’s offering into another strand of the healthy food manufacturing space.”