Elaghmore completes sale of Chaucer Foods
Elaghmore, the private investment partnership, has completed the sale of Chaucer Foods, a leading expert in freeze dried fruits, after transforming the operations of the group and supporting it in achieving outstanding organic growth. Chaucer has been acquired by the Japanese manufacturer of freeze-dried foods, Nagatanien, in a deal which represents an outstanding investment return for stakeholders. Elaghmore invested in Chaucer Foods in 2011 with partners David Manning, Andrew Ducker and Greg Koral acting as major shareholders and leading the executive team that oversaw the operational transformation of the business, with top line revenues doubling in four years. Several members of Elaghmore’s team of industrial specialists were also involved in supporting the turnaround of the business.
Commenting on the deal, David Manning, said: “This transaction brings together two well-established and successful businesses that share a common corporate philosophy and strategies which are closely aligned. Together they have an excellent platform for further growth and success.”