On 8th April, our client Vibrant Foods announced the acquisition of Fudco, a leading UK premium nuts and spices business.
Fudco, founded in 1979, began with a single retail store on Ealing Road, Wembley, serving quality foods to the community, and has since become the UK’s leading premium Asian foods brand; the portfolio comprises nuts, spices, dried fruits, pulses, speciality flours, and other Asian foods.
The company has in total launched six highly successful brands across food and health & beauty with Vibrant acquiring the food brands (Fudco – nuts, spices and other Asian foods; Chai Xpress – ayurvedic, spiced, and herbal teas; Golden Tree – Mediterranean-inspired nuts and seeds). The brands are positioned as a premium offering and are listed across independent and major retailers. Fudco’s health and beauty brands will stay under the ownership of one of its founders, remain independent, and will not be acquired by Vibrant.
Led by brothers Sheilesh and Akhil Shah, the food arm of Fudco employs 68 people across its headquarters and factory in Willesden and retail store on Ealing Road, and has remained a family run business since its foundation. Today the business distributes an impressive 2,500 SKUs and is found in over 1,000 stores nationwide. Fudco was the first food brand to develop the ‘store-in-store’ concept with Sainsbury’s, which was rolled out across 400 of their stores.
Fudco’s impact as a community business is evident with its retail space in London providing a window into its history and local roots, as well as its loyal customer base of over 200 independents and cash & carry’s supplementing its national distribution in supermarkets.
The new partnership will bring Fudco’s food brands into the Vibrant Foods portfolio, alongside the loved and recognised Asian foods brands of TRS, East End and Cofresh, as well as the recently acquired Everest Dairies, the UK’s leading paneer brand. This deal continues Vibrant’s strong tradition of investing in pioneering, heritage-focused, family-owned businesses, helping owners to exit while retaining the business’ legacy. It also cements Vibrant Foods as one of Europe’s leading, branded, Asian foods businesses by growing the group’s existing consumer demographic and reach.
Sheilesh and Akhil Shah will support the transition of Fudco into the Vibrant Foods stable over the coming months. Sheilesh will continue to steer the company’s health and beauty brands independently.
Stamford Partners acted as exclusive financial advisor to Vibrant Foods on this transaction.