Rutland Partners acquires Bernard Matthews

The deal value stands at a little more than £20m, a source close to the deal told unquote". Rutland acquired a controlling stake in the firm, the source confirmed. The capital was drawn from the £320m Rutland Fund II vehicle.

David Joll, CEO of Bernard Matthews until 2006, recently returned to the company, and will continue in his role post-investment.

Company
Based in East Anglia and founded in the 1950s, Bernard Matthews is a turkey producer. The firm employs more than 2,000 people and farms in excess of 7 million turkeys each year, 1.5 million of which are supplied over Christmas. The company owns the entire supply chain for primary markets selling fresh turkey and secondary markets supplying cooked meats. Bernard Matthews also has branded meat processing businesses in Germany and Hungary.

People
David Wingfield, Rahul Satsangi and Kajen Mohanadas led the transaction for Rutland with support from Paul Cartwright.

Advisers
Equity – Stamford Partners, Simon Milne, Damian Thornton, Robert Iseman (Corporate finance); Eversheds, Robin Skelton, Jonathan Pollard, Paul Castle (Legal); PwC, Neil Coomber, Richard Hughes, Shane Horgan (Financial due diligence); Parthenon, Paul Ahern, Graham Burr, Srivaths Swaminathan (Commercial due diligence); Newton, Tom Wedgewood, Paul Harvey (Operational due diligence).
Company – PwC, Chris Tilbrook, Nick Carmichael (Corporate finance); Baker & McKenzie, Karen Guch, Sébastien Marcelin-Rice (Legal). 

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• Topics
• UK / Ireland
• Consumer
• Buyouts
• United Kingdom
• PricewaterhouseCoopers
• Eversheds