Sale of Saxon Foods to Tuber Group

On 5th November 2021, Tuber Group completed the acquisition of Saxon Foods, a subsidiary of our client Abbeydale Food Group.

Saxon Foods is a plant-based convenience foods manufacturer offering a range of allergen free frozen products including jacket potatoes, mint and chilli peas, mushy pea pots, potato skins, healthy baked chips, and curry sauce pots. Having acquired Country Chef in 2011 and renamed it Saxon Foods, Abbeydale Food Group developed it from a B2B business serving food manufacturers into a major provider of added value frozen vegetables, supplying most of the UK’s leading supermarkets and wholesalers as well as the food service market. Its products are also sold into continental Europe. It operates from a single facility in Scunthorpe, Lincolnshire.

Andrew Hayes, Managing Director of Abbeydale Food Group, explains: “After being part of Abbeydale for the last 10 years, we believe that Tuber Group is a natural home for Saxon, enabling the business to gain from the group’s purchasing benefits. The new owner also has some exciting plans to build on Saxon’s success and take it to the next stage in its development.
The sale will also allow Abbeydale to focus on developing other parts of the group, including our Summit Foods business which has already doubled in the last 24 months.”

Stamford Partners acted as exclusive financial adviser to Abbeydale Food Group. Financial terms were not disclosed.