Perwyn is delighted to announce its investment in Freshcut Foods in a management buyout led by David Bondi and the incumbent team, with the ongoing support of Adam Clarke and Peter Clee.

The business was acquired from its owner managers Adam Clarke and Peter Clee with the intention of supporting its future growth prospects, driven by further penetration of its customers’ supply chains, and attractive underlying demand trends towards a healthier, vegetable-rich diet.

Freshcut Foods is a market leading provider of added value vegetables, fruits and carbohydrates to food manufacturers and food service operators in the UK. The Company is deeply integrated into the supply chain of its customers, offering a highly flexible service across a broad range of recipes, coupled with strong product innovation skills. The Company employs about 250 members of staff across two manufacturing sites near Nottingham.

Heinz Holsten, Perwyn Partner, commented: “We are delighted to be partnering with Freshcut as we help support the next chapter in its growth story. Freshcut is well placed to enable its customers to provide healthier products that consumers are increasingly seeking out.”

Peter Clee and Adam Clarke commented: “We have found Perwyn’s culture and values a natural fit with Freshcut. We are both delighted that the relationship has culminated in an investment support for the management team at Freshcut, endorsing an exciting future for the company.”

David Bondi, CEO, commented: “I am delighted that we will be working with Perwyn for the next phase of Freshcut’s development. We will continue to work with customers and suppliers in the same way as we always have, to the mutual benefit of all, including the growing number of Freshcut employees.”

Perwyn was advised by Pannone Corporate. The Vendors were advised by Spayne Lindsay and Browne Jacobson. Acquisition finance was provided by Yorkshire Bank.

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March 2018