Frostkrone Food Group – a portfolio company of private equity firm Emeram Capital Partners – has acquired UK manufacturer of finger food and snacks, Abergavenny Fine Foods, for an undisclosed sum.
Based in South Wales, Abergavenny Fine Foods produces finger food and snacks for the frozen and fresh food sectors such as halloumi fries, jalapeño poppers and mac’n’cheese croquettes. While the firm began as a producer of goats cheese, it is now better known for its vegan, gluten-free and lactose-free offerings.
The company serves both retail and food service brands, while significant export markets for the company include Australia, Japan and the USA.
Abergavenny Fine Foods will join Frostkrone’s portfolio of companies that include Bornholter, Piz’wich Europe, Varenne Gastronomie, Rite Stuff Foods and Innovate Foods.
“The finger food and snack market continues to expand and we want to grow significantly as an innovation leader. The ‘free from’ market in particular holds great potential worldwide,” said Frédéric Dervieux, CEO of Frostkrone Food Group.
“With Abergavenny Fine Foods, we now have a strong partner in our team with great know-how as well as excellent business relations to Australia and Japan,” he added.
With the purchase, Frostkrone continues to expand its finger food and snack selection, as well as its exports and international presence.
Christian Näther, founding partner of Emeram, said: “Since our investment in 2017, we have now been able to realise the fifth follow-up acquisition and achieve double-digit annual sales growth. As a result, we have further developed the Frostkrone Food Group into a global player with seven locations worldwide and around 800 employees.”
Meanwhile, Abergavenny Fine Foods says the merger will open up more markets and further strengthens its position beyond the UK borders.
“We are very excited to be joining the Frostkrone Food Group and continuing on our growth journey in frozen and chilled finger food together, bringing more value and job security to Wales and the local area in the process,” said Jason Rees, managing director of Abergavenny Fine Foods.
Earlier this year, Abergavenny Fine Foods offloaded its blended cheese business to Somerdale International, including its blended cheese processing assets, brands and associated trademarks.
© FoodBev Media Ltd 2021
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