About the client
Established in 2006, Fruitapeel is an industry-leading manufacturer of quality fruit and confectionery sauces for the UK’s ice cream market and also produces fruit purees, compotes, coulis and jams & preserves for the cakes and bakery sector. It supplies an extensive customer base located across the UK.
Based in Simonswood, Merseyside, Fruitapeel’s manufacturing facility comprises a 50,000 square foot factory. The site, which has a manufacturing capacity of 400 tonnes per week, has level 7 BRC Grade A status and is Kosher, RSPO and Organic-certified. In 2013, the company entered into a joint venture with Kiril Mischef and invested heavily in aseptic technology, making it one of the only providers of this type of product in the UK, which in turn allowed it to produce superior quality products with a longer shelf life and to open new market opportunities.
About the deal
Funding for the MBO was secured with the support of Allied Irish Bank (GB), which provided senior debt funding and working capital facilities.
The deal sees Terry and Deborah Haigh take over ownership from existing fellow shareholders, Frank and Philip Frederick.
Stuart Moss and Rob Bennett of Rickitt Mitchell advised Frank and Philip Frederick on the sale of their shareholding in Fruitapeel.