Vibrant Foods acquires Everest Dairies
On 11th March, our client Vibrant Foods announced the acquisition of Everest Dairies, the UK’s largest paneer manufacturer.
Everest Dairies, based at its manufacturing facility in Leicester, was founded by Haroon Shaikh and Inayat Fatiwala in 1997. Everest is the leading UK brand in its categories, with its high-quality paneer cheese (a fresh, non-aged, non-melting soft cheese commonly used in Indian cooking) and natural set yoghurts (another staple Asian ingredient) listed across independent and major retailers, as well as being supplied into the foodservice channel.
The new partnership will bring Everest Dairies into the Vibrant Foods portfolio, alongside the well-loved and recognised Asian food brands of TRS, East End and Cofresh. It continues Vibrant Foods’ strong tradition of investing in heritage-focused, family-owned and independent businesses.
Vibrant sees huge potential in continuing to expand its offering beyond their core pulses and spices business to capitalise on the demand for protein-rich, meat-free products. The growing trend for fusion of inter-regional tastes and cuisines, and the penetration of paneer into western fast-foods, means paneer is attracting unprecedented demand across Europe. Vibrant Foods also inherits Everest’s strong NPD pipeline.
Haroon Shaikh and Inayat Fatiwala will support the transition of Everest into the Vibrant Foods stable over the coming months, before focusing on their other business interests moving forwards.
Stamford Partners acted as exclusive financial advisor to Vibrant Foods on this transaction.