The famous Bury Black Pudding Company has been taken over by food group Panicium- and its new owner says it wants the brand to grow even bigger.
BBP was founded by Debbie Pierce and today employs 122 people in Bury and has a turnover of £11.5m.
Debbie says the takeover will help the business to grow, while Panicium says it plans to grow its market share by introducing new product ranges. She and production director Richard Morris will remain in their roles and join Panicium’s senior management team following the deal, the value of which has not been disclosed.
Black pudding is a famous part of Bury’s history. BBP uses a recipe that dates back more than a century and uses traditional production methods. But the company has also broadened its range, making vegan, gluten-free and chilli varieties.
BBP has a long-established stall in Bury Market and supplies supermarkets, foodservice companies, wholesalers, hotels, butchers and restaurants across the 海角视频.
Debbie began working in her local market on Saturdays aged 12, and says she saw a gap in the market for quality black puddings in supermarkets. She then became business partners with Richard, who had taken over his father’s black pudding business.
She said: “Having steadily grown our sales and developed new business, Richard and I decided that it was time to start the next phase of business growth through becoming part of a group that is committed to the quality of its products and maintaining the family values of which we are so proud. BBP is poised for step-change growth and will benefit from investment and market extension available through the Panicium group.
“Our product range is complementary to the Panicium strategy and we share a number of routes to market. Ultimately, our products are consumed by people who love artisan, quality food. We look forward to working with the Panicium team to develop the group’s position as a leading supplier of quality foods.”
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BBP is Panicium’s third acquisition. The Derbyshire group was founded 2018 with the acquisition of Warwickshire baker Margaret Hall Limited, which operates under the Margaret’s Country Kitchen brand. It bought Sheffield-based sandwich spread maker Binghams Food in 2021.
Graham Norfolk, one of Panicium’s founding directors, said it remains business as usual for BBP and its workforce.
He said: Graham Norfolk said: “The Bury Black Pudding Company makes artisan, high-quality, delicious products with a distinctive brand, and complements Panicium’s strategy of acquiring companies in the 海角视频 artisan food sector to develop a portfolio of brands characterised by their hand-made, high-quality nature with a distinctly regional identity.”
Ben Bradley and Isabelle Bennett of HURST Corporate Finance provided M&A and debt advisory expertise to Panicium, while Rebecca Grisewood, Laolu Elugbaju, Chris Lister and Rebecca Mills, all of Gateley Legal, provided corporate and banking advice.
Lauren Roberts and Danielle Tierney, of HURST Corporate Finance, and HURST tax partner Liz Gallagher advised BBP, while Andrew Sturge, of Bexley Beaumont provided legal advice.
Funding for the deal was provided by Shawbrook Bank and Frontier Development Capital.
Shawbrook’s team was Dan Martin and Nathan Burn from its corporate lending division, while Rob Fawke, a partner at gunnercooke, advised Shawbrook.
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Investment director Ondrej Okeke led the deal for Frontier Development Capital and was advised by Matthew Ingram and Michael Atherton at law firm Squire Patton Boggs.
Matt Beckley and Lewis Pearson at DTE Business Advisers provided financial due diligence support to Panicium, Shawbrook and FDC.
Ben Bradley of HURST Corporate Finance said: “This is another fantastic deal for Panicium which enables the previous owners of The Bury Black Pudding Company to de-risk, and provides the business with lots of growth opportunities under new ownership. I look forward to seeing The Bury Black Pudding Company and Panicium go from strength to strength, with further acquisitions in the pipeline.”