Sentio Partners has advised Around Noon Foods Ltd, the award winning Northern Ireland-based food-to-go manufacturer, on the acquisition of London-based Chef in a Box, a premium sandwich and snack manufacturer, from Donegal Investment Group plc.
The acquisition will enable the Newry headquartered company, which already has a market-leading position on the island of Ireland, to gain a strong foothold in Greater London and provide a platform for further UK expansion.
The food-to-go market in the UK is estimated to be worth over £16billion, driven in part by the rise of little-and-often shopping, and the popularity of coffee culture.
The deal will enable Around Noon, which has built a strong reputation for innovation, to access Chef in a Box’s manufacturing, sales and distribution infrastructure, as well as its high-end client-base, as it seeks to realise its growth ambitions.
Around Noon has been in business for more than 25 years and employs over 300 people. It supplies a broad range of high-quality sandwiches, wraps, salads and fruit pots under its Scribbles brand. It also markets bakery items from its in-house operation, Sweet Things, which it acquired last year, and cold pressed juices.
Gareth Chambers, CEO of Around Noon, said: “Chef in a Box is an excellent business with an impressive client portfolio, and acquiring the company from Donegal Investment Group PLC gives us the presence and infrastructure required to have a significant impact in the UK market.”
Howard Farquhar, Chairman of Around Noon, said: “Food-to-go is a high-growth category and we see London as a very significant opportunity for us, as well as a platform for further UK expansion, including other potential acquisitions. We are delighted to be expanding our geographical reach, adding to our manufacturing capacity and welcoming new colleagues to our business.”
Around Noon was advised by Andy Miller of Sentio Partners and Amy Wright of 3volution.