On 22nd May, our client Atlantic Foods Group Ltd, a leading supplier and manufacturer of menu solutions to the UK foodservice market with annual sales in excess of £50 million, was acquired by the USA based company Flagship Food Group LLC. Flagship Food Group has an annual turnover in excess of $200 million supplying frozen, shelf-stable, and fresh products into both the retail and foodservice markets.
This transaction brings together two businesses focused on developing, sourcing, manufacturing, and distributing a wide range of innovative food products for retail and restaurant customers. Atlantic Foods Group will bolster Flagship’s international presence while adding an impressive line-up of foodservice products and customers. The combined business is expected to generate approximately $300 million in annual turnover, operating seven facilities in five time zones. Terms of the transaction were not disclosed.
Russell Maddock and Edward Baker will remain in their current capacities as CEO and Managing Director, respectively, of Atlantic Foods Group.