UK – UK-based The Compleat Food Group has acquired Harvey & Brockless, a well-known specialty food business that produces and distributes a range of premium products, including cheeses, charcuterie, olives, and other deli items.
Although the financial terms of the deal have not been disclosed, this acquisition is significant, pushing Compleat’s annual turnover past the £1 billion (US$1.3 billion) mark.
Harvey & Brockless, which was established in 1970 in Sussex, has grown to employ around 500 people and supplies its products to a diverse clientele, including hotels, restaurants, farm shops, delicatessens, and food manufacturers.
Despite the acquisition, the company will continue to operate under its established brand name, maintaining its current leadership team, including Simon Yorke, Nick Martin, and Jonnie Archer.
The family-owned company has built a strong reputation over the years, and this continuity in management is expected to preserve the brand’s identity and ensure a smooth transition.
This acquisition is part of The Compleat Food Group’s broader strategy of expansion, following its earlier purchases of SK Foods and Zorba Foods, both specialists in dips and party foods, in February.
According to Nick Field, CEO of The Compleat Food Group, the synergy between the two businesses is strong, with Harvey & Brockless’s product range complementing Compleat’s existing offerings.
Field noted that the acquisition would not only enhance their capabilities but also open new markets and customer segments, further delighting consumers with high-quality food.
The Compleat Food Group itself was formed in 2021 when private equity firm PAI Partners, headquartered in Paris, merged its UK portfolio companies Winterbotham Darby and Addo Food Group.
In December 2021, Compleat acquired Wrights Food Group, a well-known pie maker, and more recently, it purchased Palace Culture, a vegan cheese business. The group’s diverse brand portfolio includes popular names like Pork Farms, Wall’s Pastry, Squeaky Bean, Unearthed, and Vadasz.
Nick Martin, Managing Director at Harvey & Brockless, expressed optimism about the partnership, emphasizing that The Compleat Food Group shares their passion for great food. He is confident that the partnership will help Harvey & Brockless grow and achieve its future ambitions.
Tropical Cheese Industries considers potential sale amid strong growth
Meanwhile, across the Atlantic, New Jersey-based Tropical Cheese Industries, a prominent producer of Hispanic dairy products, is reportedly considering a sale.
According to unnamed sources cited by Reuters, the family-owned business has enlisted the services of investment bank Rothschild and Co. to explore acquisition offers, with the company potentially being valued at around US$500 million.
Founded in 1982 by Cuban immigrant Rafael Mendez, Tropical Cheese Industries has grown from a small milk delivery route to a significant player in the Hispanic food market.
The company’s product portfolio includes a wide range of Latin American and Caribbean-style cheeses, meats, seafood, tortillas, and creams.
These products are distributed across most U.S. states, as well as in the Caribbean, Central and South America, and Europe, reaching consumers through convenience stores and major retailers.
Despite the speculation surrounding a potential sale, Mendez has not indicated any such plans publicly. In a recent blog post celebrating the company’s 40th anniversary, he expressed a strong commitment to the future, highlighting the company’s plans for further expansion and continued dedication to quality.
The company is expected to generate nearly US$50 million in EBITDA by 2024, making it an attractive acquisition target.
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