Livingbridge backs MBO of Fudge's

The GP will take a controlling stake in the company via the transaction, unquote" understands.

Paul Vita and Vickie Best, previously commercial and operations directors at Fudge's, will take on the roles of joint managing directors following completion of the deal.

The deal marks the 100th investment made by Livingbridge since its foundation in 1995 and comes just one week after the firm invested in Direct Ferries, an online ferry ticket prices aggregator.

Company
Founded in 1916 and headquartered in Stalbridge, Dorset, Fudge's produces biscuits and crackers. The company generated a turnover of around £11m in its latest financial year, according to a source.

The company has a headcount of 133. Its clients include supermarket chains Waitrose, Tesco, Morrisons and Marks & Spencer, as well as luxury retailers Fortnum & Mason and Harvey Nichols.

People
Livingbridge – Benoit Broch (director).
Fudge's – Paul Vita, Vickie Best (managing directors).

Advisers
Equity – Olswang (legal); Food Strategy Associates (commercial due diligence, operational due diligence); RSM (financial due diligence); Spectrum (corporate finance); Avendris (IT due diligence); Vista Insurance (insurance due diligence).
Management – Shoosmiths (legal).

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