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Manfield Partners buys Mitsui’s European packaged food businesses

20 December 2011

Manfield Partners, the investment and advisory firm, has acquired two packaged food businesses, MCM Select Foods in the UK and MCM Foods BV in the Netherlands, from Mitsui & Co of Japan

The two businesses import, distribute and market a mixture of exclusive brands and own label foods for retailers and food service companies. The product range comprises a selection of foods but primarily canned fish (tuna, salmon etc) and fruit. The combined business is expected to generate revenues of circa £75m in the year to March 2012 with profits in excess of £1m.

Manfield was attracted to the two businesses by the strong customer and supplier relationships the businesses have built in a stable sector and believe there is a significant opportunity to grow the businesses into more branded higher value areas.

The firm will use the operational and financial skills that it has deployed on other FMCG businesses, most recently the acquisition of Waverley TBS from Heineken. Initial implementations will include Manfield seeking to improve the key functions within the business including procurement, supply chain and sales and marketing.

This deal represents another major success for Manfield Partners, highlighting its expertise in successfully transitioning companies from large corporate firms to stand alone businesses. Manfield will bring in relevant operational expertise to assist the current management team in taking the business forward.

Bill Gore, partner at Manfield Partners, says: “This is another landmark deal for Manfield. Following our recent acquisition of Waverley TBS from Heineken we have demonstrated once again that we can work with large corporates to acquire non-core businesses through a professionally managed process.

“Such businesses often need assistance in the transition to independent existence and we look forward to working alongside the current management team, as co–shareholders, to build on existing strong foundations.”

David Arrow, CEO of MCM Select Foods UK, says: “This transaction represents a great opportunity for MCM and its employees. The business has developed well over the past 18 months and under Manfield ownership we have the ability and commitment to develop and grow further. I look forward to working with the Manfield team to take the business to the next stage of development and to achieving the potential that undoubtedly exists.”


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