Ginsters’ owner Samworth Brothers has acquired a minority stake in pie company Higgidy – a move that Higgidy said would accelerate its growth.
While the details of the deal have not been disclosed, Higgidy said the businesses would continue to operate separately. The Higgidy team, including one nominated non-executive director from Samworth Brothers, will remain at its current Shoreham-by-Sea site along with its manufacturing facilities, which produce the business’ range of quiches, pies, sausage rolls and other products.
However, Higgidy said the partnership would open up “significant opportunities” for the business in terms of manufacturing and innovation as it continues to develop its range and brand as a whole.
“Our long-term ambition for Higgidy is to build an enduring British food business that we can all be proud of in the decades to come. We’ve always known that, to achieve this in our sector, we’d need to partner with a larger business at the right moment,” said Higgidy CEO Mark Campbell.
“With significant opportunities opening up for us in the market, this feels like exactly the right moment and Samworth Brothers’ fit with our values and culture, as well as our strategic alignment, make them exactly the right partner.”
The deal also includes an option for Samworth Brothers to increase its stake in Higgidy in the years to come.
“The Higgidy team has been extremely successful over the past 16 years in growing a much-loved and contemporary consumer brand with strong retailer partnerships. Our own business already has a great track record in developing brands with distinctive identities and brand stories. Our involvement in Higgidy will help build on these existing business strengths and open up significant new opportunities,” added Samworth Brothers chief executive Flor Healy.
Fourth-generation family business Samworth Brothers employs more than 9,000 people and operates sites across the UK. Its consumer brands include Ginsters, Soreen and the West Cornwall Pasty Company, as well as pie specialist Dickinson & Morris.