Baxters Food Group, the iconic Scottish-based manufacturer of premium ambient foods, has announced the acquisition of the Fray Bentos business and brand for an undisclosed sum from Princes Limited.
Date:
Mon, 21 Nov 2011
Source:
Baxters Food Group
Baxters Food Group:
Website
Fray Bentos, originally set up in 1899, is best known for its classic range of canned pies, including household favourites Steak & Kidney and Minced Beef & Onion.
Baxters plans to invest and develop the brand to extend its reach into the ambient meat market.
Audrey Baxter, chairman of Baxters Food Group, commented: "Like Baxters, Fray Bentos is a heritage brand and is known the length and breadth of the country, holding a special place in the hearts of British consumers both young and old.
"We have many exciting ideas to revitalise the brand as we aim to secure a strong foothold in the canned meat market.
"As a business we have constantly sought out new opportunities, most recently through successful acquisitions in Canada and Australia, and we also invested in a new-build Polish manufacturing operation.
"Fray Bentos will provide an array of opportunities to develop our position in the UK market and internationally.
"Manufacturing of the Fray Bentos products will transfer over the next 12 months to our Fochabers production facility.
"A substantial capital investment programme has also been approved to enable all the plant, machinery and production lines to be housed on-site."
Baxters Food Group is a manufacturer of premium ambient food, supplying retail and foodservice customers in the UK and overseas markets. Founded in 1868, the family company has been producing high-quality foods for four generations.
Products include soups, savoury sauces, sour pickles, sweet sauces, preserves and salad accompaniments and are sold under a variety of brands owned by, or licensed to, Baxters Food Group.
Baxters was advised on the transaction by McQueen, the consumer-sector corporate finance specialist.
Use Scotland Food & Drink's Buyers' Guide to source ambient and prepared products in Scotland.