The management team at West Lancashire-based company, Fruitapeel, the UK’s fastest growing fruit and confectionery sauce manufacturer, has undertaken a management buy-out, supported by our Corporate Finance and Tax teams.
The deal sees Terry and Deborah Haigh take over ownership from existing fellow shareholders, Frank & Philip Frederick and Neil Murgatroyd, Fruitapeel’s Finance Director, also becomes a shareholder.
Established in 2006 by Terry Haigh, Fruitapeel is an industry-leading manufacturer of quality fruit and confectionery sauces for the UK’s ice cream market and also produces fruit purees, compotes, coulis and jams and preserves for the cakes and bakery sector. It supplies an extensive customer base located across the UK.
Based in Simonswood, Fruitapeel’s manufacturing facility comprises a 50,000 square foot factory. The site, which has a manufacturing capacity of 400 tonnes per week, has level 7 BRC Grade A status and is Kosher, RSPO and Organic-certified.
In 2013, the company entered into a joint venture with Kiril Mischef and invested heavily in aseptic technology, making it one of only providers of this type of product in the UK, which in turn allowed it to produce superior quality products with a longer shelf life and to open new market opportunities.
Speaking about the buy-out, Terry, who has been Managing Director since he founded the company, said: “It’s an exciting time for everyone involved in Fruitapeel and I’m delighted to be able to continue in my role as Managing Director and build on the company’s already great reputation to take the company forward.
The continuous support I have received from the team at CLB Coopers over the years has been paramount and I cannot thank everyone enough for the part they have played in helping me achieving this success.”
“We have worked with Terry for a number of years, supporting him in the development of the business and in putting in place a clear plan for growth,” said Andrew.
“We are delighted to have been able to work with him through this transaction, which will put the company in the ideal position to exploit a wealth of new market opportunities. We have no doubt Fruitapeel will continue to be a great success under Terry’s ownership and we look forward to working with him in what looks set to be a very exciting and positive future for the business.”View all news