Sale of TRS Foods to Exponent Private Equity
On 25th November 2019, the sale of our client TRS Foods (“TRS”) to Exponent Private Equity was completed.
TRS, founded in 1959 by TR Suterwalla, and since 1972 owned and managed by his five sons, is a leading manufacturer and distributor of South Asian ethnic foods which are sold under the TRS brand in the UK and internationally. The TRS brand has a loyal following of ethnic and non-ethnic consumers, who go to TRS for high-quality ingredients and authentic flavours
Farouk Suterwalla of TRS said: “My brothers and I have devoted our entire working lives towards developing the business our father founded to become the much loved brand and thriving, scale company it is today. In handing over TRS after all these years, it was vital to us that the new owner has the capabilities and financial strength to help TRS capitalise fully on the great opportunities it has to grow given the move towards plant based nutrition and ethnic foods across Europe. We are confident that Exponent will be excellent stewards of the business and wish Simon and his team the very best of fortune for TRS’ future development”
Commenting on the acquisition, Simon Davidson of Exponent, said: “We have a profound respect for the lifetime of hard work that the Suterwallas have dedicated to building the TRS business. The business’ strong brand and loyal customer base provides an attractive position within a market that is benefitting from structural tailwinds as demand for ethnic foods – both in the UK and across Europe – continues to outpace the broader grocery market. Exponent is delighted to build on the legacy of the Suterwalla Brothers and support TRS on its next phase of growth”
Stamford Partners acted as sole financial adviser to the shareholders of TRS on the sale process. We are proud to have been trusted by the Suterwalla brothers to manage the sale of the company they have owned for nearly 50 years and delighted to have found a great buyer who can guide the business forward to further successful growth.