Arden Fine Foods acquired in management buyout

Biscuit and bakery products manufacturer Arden Fine Foods has been acquired for an undisclosed amount in a management buyout (MBO) deal backed by Barclays.

Based in Coventry, Arden – which has a turnover of £24 million – works with food manufacturers worldwide to develop sweet and savoury products that are then supplied to UK retailers, among other channels.

The buyout was led by managing director Gary Barr, who commented: “My team and I are very pleased to have completed this transaction and look forward to the next phase of development for Arden.”

He continued: “Significant opportunity now exists to build on the business’s history and reputation within the industry. We are excited by the opportunities ahead for the sector.”

The deal was advised by Springboard Corporate Finance which provided a review of strategic and funding options during the MBO.

Commenting on behalf of Springboard, partner Simon Ward said: “Arden is a great UK success story. It is a business that over 20 years has shown strong growth and developed an enviable market position working globally.

“The team is exceptionally innovative and we are pleased to have been able to help them on the next stage of their development.”