Fast-growing Hull food business Tuber Group has bought Scunthorpe’s Saxon Foods in an undisclosed deal.
The plant-based convenience foods manufacturer has been part of the Abbeydale Food Group for the past decade. It went from a business-to-business supplier to serving retail and wholesale markets, adding European sales.
The new owner now aims to double turnover, with latest figures showing sales of £6.5 million in the year to March 2020, taking on all 80 staff.
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Steven Humphrey, managing director of Tuber Group, said: “Having started as a potato supplier, in recent years we have expanded our offering to include a diverse selection of fresh and frozen produce. The acquisition of Saxon Foods is a great opportunity to build on the good work Abbeydale Food Group has done with the business and the fantastic team it has established.
“We believe we are best placed to drive the company’s continued development, taking it to the next level and adding significant value to the 海角视频 frozen food sectors with the benefit of our global procurement capabilities, as well as our plans for exporting added value cooked British potatoes products globally.
“We aim to double the current turnover within three years and, after achieving this, we will have established a sizeable operation that will be buying in excess of 250 tonnes of fresh potatoes and 150 tonnes of sweet potatoes every week.”
Abbeydale had acquired what was Country Chef in 2011, renaming it. The 35-year-old Foxhills Industrial Estate site is allegergen and meat-free. Key products include jacket potatoes, mint and chilli peas, mushy pea pots, potato skins, healthy baked chips, and curry sauce pots.
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In the period immediately prior to the pandemic, sales had increased 18 per cent, with lockdowns sending revenues much higher for many.
Tuber, launched in 2017, will retain the name. It procures a wide range of fresh and frozen produce for food processors and food service businesses worldwide. June saw it launch an international trading entity. The group operates in the 海角视频, Spain, Egypt, Asia, USA and Africa. It supplies over 30 different fresh and frozen food commodities at any one time, ranging from its own brand ‘Chefs Best’ mayonnaise to potatoes, sweet potatoes, onions and citrus.
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Andrew Hayes, managing director of Abbeydale Food Group, said: “After being part of Abbeydale for the last 10 years, we believe that Tuber Group is a natural home for Saxon, enabling the business to gain from the group’s purchasing benefits. The new owner also has some exciting plans to build on Saxon’s success and take it to the next stage in its development.
“The sale will also allow Abbeydale to focus on developing other parts of the group, including our Summit Foods business which has already doubled in the last 24 months.”
Summit is based in Bamber Bridge, Lancashire.
Tuber Group advisors included Mike Stocks of Smailes Goldie Accountants in Hull; Byron Swarbrick of James Legal Solicitors in Hull; and Phil Trueman of Reach Commercial Finance in Leeds.
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Abbeydale Group was advised by Richard Naish and Kayleigh Watson of Walker Morris in Leeds; with Stamford Partners providing financial advice.
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