Private Equity Buyout
Food & Beverage
Spayne Lindsay & Co. advises LDC on its sale of Addo Food Group to PAI Partners
Spayne Lindsay is delighted to announce that it has advised LDC, a leading mid-market private equity firm, on the sale of Addo Food Group to PAI Partners.
Headquartered in Nottingham, Addo Food Group is the UK’s leading chilled savoury pastry producer. The business manufactures a range of own brand and branded products including sausage rolls, hot pies, slices, pork pies, scotch egg products and quiches, which it supplies to the UK’s leading names in food retail including all the major supermarkets. Addo Food Group employs more than 2500 people and operates across five UK sites in Nottingham, Market Drayton, Poole and Shaftesbury.
Alongside its acquisition of Addo Food Group, PAI Partners has announced the simultaneous acquisition of chilled foods supplier Winterbotham Darby (ComplEat Food Group) and plans to bring the two businesses together under one platform. Completion of the transaction is subject to the customary regulatory approvals.
Deborah Bolton, CEO of Addo Food Group, commented:
“The sale follows three years of successful investment from LDC, they have been a great supporter of our group since 2017 and their investment and backing has been demonstrated in the growth we have seen under their tenure. We are excited as a management team and looking forward to working with our new investor, PAI Partners, to deliver our plans over the coming months and years.”