Seller

of

buyer

Rickitt Mitchell has support the Fruitapeel management team on their MBO

- Exit deal

- May 2017

- Value: Undisclosed

Client Background

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.

Rickitt Mitchell has support the Fruitapeel management team on their MBO
Rickitt Mitchell has support the Fruitapeel management team on their MBO

The Outcome

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.

How we added value

Rickitt Mitchell successfully advised on the Management Buy-Out, finding appropriate funding partners for the management and ensuring maximum value was delivered to all parties.

This successfully delivered a strong deal in the consumer space.

"We are delighted to have supported the Fruitapeel management team on the sale of their shareholding and wish them every success in the future".

- Stuart Moss | Managing Partner | Rickitt Mitchell
Seller

Acquired by

buyer

Exit deal

Value: Undisclosed

Oct. 31, 2021

Seller

Joint Venture

buyer

Growth deal

Value: Undisclosed

Oct. 13, 2021

Seller

Acquired by

buyer

Exit deal

Value: £9m

Sept. 30, 2021

Seller

investment from

buyer

Exit deal

Value: Undisclosed

Feb. 28, 2021