Meadow Foods has raised funds from Paine & Partners to grow its business through organic expansion and acquisitions.
While the US-based Paine & Partners is a global food and agribusiness investment firm, Meadow Foods is a UK-based supplier of milk and dairy ingredients to the food industry.
Meadow Foods executive chairman Simon Chantler commented: “This investment represents a new and exciting phase in the continued development of our business and will open new avenues of opportunity for all of our producer partners, customers and employees."
Following the transaction, the Chantler family will remain a substantial shareholder in Meadow Foods, while the Pickering family will cease to hold stake.
Paine & Partners said that the investment will not lead to any changes in the executive management or in the structure of the business.
Founded in 1992, Meadow Foods currently handles over 500 million litres of milk annually, supplied by over 550 farmer from across the North of England, Midlands and North & West Wales.
It operates from factories in Chester, Peterborough and Holme-on-Spalding Moor and currently employs more than 275 people.
Paine & Partners chairman and CEO Dexter Paine "In Meadow Foods, we are making a strategic investment in an industry leader that we believe is poised for continued growth. Meadow Foods' experienced management team and employees have built a blue-chip customer base with a well-deserved reputation for innovation and reliable delivery of the highest-quality products.
“We see opportunities to drive growth both organically by increasing production, enhancing capabilities and expanding into new product lines and markets, and through strategic acquisitions that leverage the Company's supply network and customer relationships.”
Paine & Partners currently invests through its $893m Paine & Partners Fund IV, which is solely focused on investing in agribusiness.
