Exponent-backed Meadow Foods acquires Nimbus Foods

Exponent acquired Meadow Foods from Paine Schwartz Partners in 2018. The firm drew equity for the deal from Exponent Private Equity Partners III, which closed on £1bn in 2015. Meadow Foods has made this acquisition to broaden its product portfolio.

Ireland-based Valeo foods is the vendor of the company. It generates revenue of around £15m.

Previous funding
The company has been owned by a series of confectionary companies such as Big Bear Confectionary, which was later acquired by Glisten Confectionary. Valeo acquired Nimbus is 2017.

Company
The company is based in Dolgellau, Wales, where it produces inclusions, decorations and toppings for the bakery, confectionery, ice-cream, dessert and cereal sectors. Founded in 1996, the company employs 75 people.

People
Meadow Foods – Mark Chantler (CEO).

Advisers
Vendor – Spayne Lindsay (M&A); Walker Morris (legal).

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• Exponent Private Equity
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