Food-to-go giant Adelie Foods has been acquired by the European arm of global private equity firm, H.I.G Capital.
The firm now has a majority stake in the company, and expects it to reach a turnover of nearly £300m in the current financial year.
Adelie provides sandwiches and food-to-go products to Sainsbury’s and Boots, as well as coffee chains and the foodservice sector. It is behind the URBAN eat sandwich brand - stocked in more than 6,000 outlets around the UK.
Gavin Cox, managing director of Adelie Foods, said: “I am delighted that we have concluded an agreement with like-minded partners who are such a strong cultural fit for our organisation and are so supportive of our plans for growth both in our home and international markets.”
Paul Canning, managing director of H.I.G. Europe, added: “Adelie has developed a strong reputation for service, quality and innovation in the UK food-to-go sector. We are delighted to become part of the Adelie team and to bring our resources to bear in supporting its expansion plans.”
The food firm was previously owned by India Hospitality Corporation, which still maintains a minority equity holding in the business.
Terms of the transaction have not been disclosed.
Adelie currently employs around 2,800 colleagues across its six manufacturing and eight distribution locations around the country.