In 2002 Nigel Harrison and Paul Baker established Calder Foods, a specialist chilled food manufacturer, taking the business from strength to strength to a £22m turnover.  Their goal was to bring another party to the business to increase the value even further.  They instructed Avondale to secure an acquisition that would not only be financially rewarding but also enabled them to retain a stake and active involvement in the business.

Avondale’s exceptional insight into the food industry enabled them to be extremely targeted in their approach to potential acquirers.   Of the six parties Avondale brought to the table, five submitted indicative offers.  Ultimately it came down to two offers; one trade and one private equity, and after much negotiation and deliberation the offer from Flagship Food Group, a US owned multi-national food service specialist, was accepted.

Founding members Paul and Nigel, who will remain in their current positions as joint MDs of Calder Foods and retain shares in the Flagship, commented “This is one of the toughest business and personal decisions we have ever had to make.  Not only did Avondale bring the right acquirers to the table but they also coached us selecting the best offer and partner for the future of Calder.  We are delighted to be joining the Flagship family. The partnership provides a golden opportunity to develop the Calder Foods portfolio, taking advantage of Flagship' Europe’s wider customer base in the foodservice sectors to promote sales.”

Commenting on the acquisition Russell Maddock, CEO of Flagship Europe said: “Calder Foods has an exceptional reputation within the foodservice sector and their products will provide the perfect complement to our own portfolio of ‘Food to Go’ products for this marketplace. We look forward to a smooth transition and to further developing both the business and the ‘Love Fresh’ brand under the Flagship Europe umbrella.”

Founded in 1991 by entrepreneurs for entrepreneurs, Avondale is the multi award winning deal adviser and M&A strategist of choice for owner managed and privately owned corporate businesses.

Renowned for its success in achieving optimal deal delivery, Avondale’s strategic focus, global capability and sector expertise connects clients to M&A opportunities designed to ensure the best possible outcomes every time. Avondale’s specialist advisory team keeps a keen eye on future trends and continues to develop new ideas and better transactions, always with a client-first mind set.

Avondale brings the very best from the corporate M&A world and combines it with unrivalled understanding and deal execution expertise. This results in a highly effective and tailored service for every client, totally focused on building maximum value and optimising transaction delivery.

*        Consistent track record of exceeding projected values.

*        Fee structure geared to deliverables and success.

*        Highly experienced UK and International advisory team.

*        Winner of 14 industry M&A awards in 2016 and 13 in 2015.

Avondale is proud to be appointed as the Institute of Directors’ preferred business sales, acquisitions and strategy provider.