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PRIVACY
Manufacturing

Black Country food manufacturer acquired by Finnish group

Panesar Foods has been bought out in an undisclosed deal by Paulig

Rolf Ladau, chief executive of Paulig

A Black Country food manufacturer has been acquired by a European firm.

Tipton-based Panesar Foods has been bought out in an undisclosed deal by Finish food and beverage company Paulig.

Founded in 1992, Panesar Foods is a family-owned business which makes sauces, salsas and condiments, with a turnover of £59 million, 308 employees and three production facilities at its HQ.

Paulig is also family owned and sells into 70 countries in segments such as tex mex, Asian and Indian foods.

The Helsinki-based company said the acquisition would strengthen its position in the world foods segment.

Panesar Foods' chief executive Bill Panesar said: "We are incredibly proud of our history and the remarkable growth we have achieved since our culinary journey began in 1992.

"As Panesar Foods becomes part of Paulig, I am confident that our ambitions for international growth will be realised and the business will continue to thrive.