In 2011, Andy Ducker and David Manning acquired a large minority stake in the Chaucer Food Group, a specialist global ingredient supplier to large food groups including Kellogg’s, Starbucks and Unilever.
Andy and David took active operational roles in transforming the company’s fortunes, including an expansion of its manufacturing facilities in the UK, France and China; opening a new operation in the US and significantly expanding the company’s product range and customer base.
Over the course of 5 years the Elaghmore team transformed the business, increasing its turnover by 50% to $150M dollars and profitability from $4M to $12M. It became the largest global provider of freeze dried fruit in the world.
In 2016, it’s success attracted the attention of Nagatanien, a Japanese food producer which acquired Chaucer for $130M.
“Our investment in Chaucer Foods, one of several highly successful ventures in the food production sector, illustrates our commitment to sustainable growth and our ability to expand companies internationally, and to attract blue chip industrial customers and, ultimately, acquirers.”
“TVS Group is building a specialist yet diversified business that is able to service the vehicular needs of blue-chip commercial and industrial clients. Elaghmore continues to enthusiastically support its organic and acquisitive growth.”
© Elaghmore Advisor LLP
Elaghmore Advisory LLP is an Appointed Representative of NCM Fund Services Limited (FRN 183732) which is authorised and regulated by the Financial Conduct Authority
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