Acquisition of Symington’s by Intermediate Capital Group

DATE
May 2012

TRANSACTION TYPE
Private Equity Acquisition

VALUE
£ Undisclosed

SECTOR
Food & Beverage

Spayne Lindsay advises Intermediate Capital Group on backing a management-led buyout of Symington’s Limited.

Spayne Lindsay is delighted to announce the management-led secondary buyout of Symington’s Limited (“the Company”), supported by Intermediate Capital Group (“ICG”). Spayne Lindsay advised ICG on investing equity alongside the management team and junior debt in the Company.

Symington’s, led by Chief Executive, David Salkeld, is a leading manufacturer of a wide range of products including: soups, sauces, cous cous and microwaveable rice. These are produced under several famous, owned and licensed brands including Ragú, Chicken Tonight, Ainsley Harriott, Golden Wonder, Aunt Bessie’s and Campbell’s.

ICG, the FTSE 250 alternative investment firm and asset manager, was established in 1989 and provides mezzanine and equity investment for mid-market transactions in Europe, Asia Pacific and North America.