Flagship Food has completed the acquisition of Atlantic Foods, a supplier and manufacturer of menu solutions to the UK foodservice market, for an undisclosed amount.
The deal will bring together two businesses focused on developing, sourcing, manufacturing, and distributing a wide range of innovative food products for retail and restaurant customers.
Flagship Food stated that the Atlantic Foods will boost the company's international presence while adding its range of food service products and customers.
The combined business, which operates seven facilities in five time zones, is expected to generate approximately $300m in annual turnover.
Flagship Food CEO Rob Holland said the acquisition represents an excellent opportunity for the company to further develop its global food business, building on the successful acquisitions it has achieved to date.
"It will provide new competencies for us in the fast growing food-service markets and extend our geographic footprint into Europe," Holland added.
Russell Maddock and Edward Baker will retain their positions as CEO and managing director, respectively, of Atlantic Foods.
Russell Maddock said, "Our new partnership with Flagship represents the perfect fit for our company.
Flagship Food was advised by Fladgate, Nixon Peabody, and Deloitte, while Atlantic Foods was advised by PDT Solicitors, Stamford Partners , and KPMG.
Flagship Food is a diversified food and consumer products company based in Los Angeles, California and is majority owned by CREO Capital Partners. The company employs more than 500 people and supplies frozen, shelf-stable, and fresh products into the retail and food service markets. It also offers food packaging and logistics services for corporate customers worldwide.
Atlantic Foods is a supplier and manufacturer of innovative menu solutions to the UK foodservice market with annual sales of over £50m. It serves casual, delivery, and pub chains in the UK.
