Bakery and dessert specialist JM Posner has been acquired by Ingå Group, the food ingredients division of Swedish investment firm Novax.
The deal, made for an undisclosed sum earlier this month, sees the Mansfield-based business join Ingå’s portfolio of autonomous ingredients businesses.
Novax first acquired clean label ingredients specialist Ulrick & Short in 2021, and then created a group by adding a new company each subsequent year. These included French specialty functional ingredients for culinary artisans and food producers, Louis François; technical ingredients distributor, Verdant Ingredients; and UK based speciality restaurant & foodservice supplier, MSK Ingredients.
JM Posner was founded by Justin Posner in 2009, initially supplying the likes of chocolate fountains and waffle makers to caterers. It later expanded into other specialist categories of own brand and branded ingredients including sweet spreads and sauces, chocolate, confectionery, dessert mixes, toppings, baking ingredients, ice cream consumables, and savoury sauces, building up a customer list of over 10,000 food manufacturers, cafés, restaurants, and foodservice suppliers across the UK and beyond.
The company has grown online and offline sales 30% year-on-year since 2021, and currently employs a total of 27 staff . Tim Hills took over leadership of the company in 2023 following the passing of founder Posner, and will remain as managing director alongside sales director Philip Rundlett, finance manager Joanne Stanbrook, and existing colleagues.
“With Ingå’s support, we will be stronger, and we will be able to take JM Posner much further together than we could have as a standalone independent,” commented Hills. “I know the team at JM Posner are really excited about joining the wider Ingå Group family, and the multiple opportunities this new partnership creates.”
The company is said to source its ingredients from select global partners, which has helped it achieve Rainforest Alliance and AA level Brand Reputation through Compliance Global Standard (BRCGS) certifications for food storage and distribution.
A statement from Ingå Group said JM Posner’s “knowledge, ethos and approach is very much aligned with what Ingå stands for”, adding it was excited to have it onboard.
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