Milestone achievement in high value-add plant based  ingredient market

We are pleased to announce that investee company Freshcut Foods (“Freshcut”), the leading provider of high-value add plant based ingredients to foodservice and B2B customers in the UK, has successfully exited to Flywheel Partners.

Perwyn acquired majority control of Freshcut from its founders in 2018, paving the way for substantial growth and development, and transforming Freshcut from an owner-managed business into a professionally managed enterprise. We supported the strengthening of the Freshcut team, enabling them to pursue new opportunities and achieve remarkable advancements in various aspects of the business.

Over the past few years, Freshcut has made strategic investments in expanding its capacity and production capabilities, fuelling the company’s continued growth, and ensuring its ability to meet the evolving demands of its diverse customer base. These investments have resulted in increased operational efficiency, enhanced product offerings, and continued industry leading customer satisfaction.

With a strong emphasis on becoming a trusted supplier to high-quality destination brands and top-tier B2B operators, Freshcut has successfully established itself as a reliable partner in the foodservice industry over the course of Perwyn’s ownership.  By consistently delivering exceptional service and innovation, Freshcut has earned the trust and loyalty of its customers, solidifying its reputation as a go-to provider.

Freshcut’s existing management team will remain with the business, ensuring continuity and a seamless transition.

Heinz Holsten, Partner and CIO of Perwyn, commented: The exit of Freshcut Foods to Flywheel Partners is a testament to the hard work and dedication of our team, and the strong collaboration with Freshcut’s management.  We are proud to have supported the transition of Freshcut into a leading player in the plant based food ingredient market. This successful exit showcases the tremendous growth and potential of the company, and we are confident that Freshcut will continue to thrive under the new partnership with Flywheel Partners.”

Chris Copestake, CEO of Freshcut Foods added: We have thoroughly enjoyed our partnership with Perwyn, who have been extremely supportive throughout from both a strategic and investment perspective. I am very proud of the entire Freshcut team for the dedication they have shown in developing the business to where it is today and look forward to a very promising future alongside Flywheel Partners.”

Perwyn were advised by Stephens (financial) and Squire Patton Boggs (legal). Eight Advisory (accounting & tax) and Strat7 (commercial) provided vendor due diligence.