Paine & Partners invests in Meadow Foods
US agricultural investor Paine & Partners has backed UK dairy business Meadow Foods.
Following the deal, Meadow Foods will look to expand via an acquisitive growth strategy. It will also invest in its existing facilities and expand its range of products.
Existing investors, the Chantler family, will retain a substantial stake following the deal, while the Pickering family will fully divest its stake.
The investment marks the GP's first European investment of 2016. Last year it acquired eastern-Europe-focused farming group Spearhead International in a management buyout, as well as Italian vegetable and legume seed producer Suba Seeds in an €80m secondary buyout from Quadrivio.
Company
Founded in 1992 and headquartered in Chester, Meadow Foods provides milk and dairy ingredients to the food industry. The company has additional operations in Peterborough and Holme-on-Spalding Moor. It has a headcount of 275.
People
Paine & Partners – Dexter Paine (chairperson, CEO, founding partner).
Meadow Foods – Simon Chantler (executive chairperson).
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