Superior Food Group

Deal Summary

Catalyst advised the shareholders of the Superior Food Group (Superior) on the £14 million sale of the business to Adelie Food Holdings.

Superior is a manufacturer of prepared fruit, vegetables and plated meals to the UK food service sector, in particular the airline industry, with annual sales of £30 million.

In recent years the company has focused on diversifying its customer base to reduce its reliance on the airline caterers and increase its exposure to the fast growing food-to-go market. Superior’s focus on quality and innovation has allowed it progressively to deliver better meals to its important first class airline market over a long period of time and to develop exciting new snack products, most notably, market leading, clean eating, out-of-hand fruit snacks aimed at the food convenience market.

What difference did we make?

We were appointed by the shareholders of Superior to work closely alongside them to prepare the business for sale over an eighteen month period.

When the decision to go to market was made, we advised them on a highly confidential process designed to maximise the value achieved and allow the owner to step away from the business soon after completion.

Catalyst identified Adelie Food Holdings as the most active strategic consolidator in the food-to-go sector, supported by funding from Duke Street capital, giving comfort that the deal was deliverable. Adelie’s existing investments in the sandwich, salads and pastry sectors and the significant synergies available to it meant that Superior was a transformational acquisition, which allowed Catalyst to secure excellent value for the shareholders.