A North East private equity firm has announced that it has acquired a fruit supplier with links to Tesco and Morrisons.
Elaghmore has completed its acquisition of Orchard House Food, which has operations in Gateshead, from Hain Celestial Group.
Orchard House is a supplier of prepared fruit, fresh fruit drinks and desserts, with clients including Marks & Spencer, Morrisons, Pret A Manger, Sainsbury’s and Tesco.
The acquisition of Orchard House is Elaghmore’s tenth deal, with the previous nine currently creating a combined annual turnover of £170m.
Andy Ducker, co-founder of Elaghmore, commented: “Orchard House is a market-leading business which supplies products that many UK customers buy daily.
“We are very proud that we will be part of Orchard House’s growth and development as we look beyond Covid-19.
“Orchard House is a flagship investment for Elaghmore, and our financial strength and operational expertise means we can help Orchard House prosper.
“Elaghmore’s deal pipeline is full of interesting opportunities. The pandemic has seen the need for many successful companies to seek new investment, especially as government support schemes end, and bank support is limited.
“Elaghmore is well placed to help these companies, and we look forward to continuing to create significant value for our investors.”
Elaghmore was advised by global investment bank Houlihan Lokey, financial and tax advisers EY and Squire Patton Boggs in Leeds in regards to legal.
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