A Teesside food company employing more than 700 people has been taken over.
Leading manufacturer The Compleat Food Group has acquired SK Foods alongside its sister company Zorba Foods from The Entrepreneurial Food Group for an undisclosed figure.
The two food businesses are category leaders in private label chilled party foods and dips and deli fillings, with a combined turnover of over £160m and over 1,150 employees.
Formed in 1987, Middlesbrough and Wynyard-based SK Foods employs over 770 people and specialises in high-quality, globally inspired party foods including Indian, Oriental, Tex Mex, Mediterranean, and Traditional British favourites. It holds around 40% of the market share for private label party foods outside of the Christmas period and became part of The Entrepreneurial Food Group in 1999.
Jeremy Faulkner, CEO of both SK Foods and Zorba, said: “At the heart of both SK Foods and Zorba is a commitment to real food values. It’s what our reputations have been founded on and why we are able to say that we are category leaders.
“With The Compleat Food Group, we have found a natural partner who not only shares our values, but also the ambition to invest and support us in driving further innovation and growth for our categories and key partners.”
South Wales-based Zorba Foods was formed in 1976. Now employing nearly 380 people at its Gwent site, it started out creating authentic Greek houmous, before expanding to cover a range of Greek, Traditional, Tex Mex and Asian-inspired dips and sauces, alongside soups, for retail and foodservice. It holds around 25% share of the private label dips market and became part of the Entrepreneurial Food Group in 2003.
They are the latest strategic acquisitions by The Compleat Food Group as it continues its journey to become the UK’s number one chilled prepared food company.
Backed by European private equity firm PAI Partners, The Compleat Food Group was formed in 2021 and currently employs over 3,800 people across 10 sites with an annual turnover in excess of £0.75bn. It is home to leading brands Pork Farms, Wall’s Pastry, unearthed, Vadasz, Squeaky Bean, Wrights and its most recent addition Palace Culture.
With significant existing market share within the branded and private label chilled Mediterranean-deli and Olives and Antipasti categories, The Compleat Food Group is adding SK Foods and Zorba Delicacies’ complementary products to its growing portfolio, gaining access to a range of new categories and expanding its production capabilities.
Nick Field, CEO at The Compleat Food Group, said: “We’re incredibly excited about these two significant additions and what they bring to the group, with both companies having strong heritage in their categories for creating great food that people love. We plan to continue investment in both companies to extend their respective capabilities, allowing us to further innovate and inspire within their categories.
“For The Compleat Food Group, these acquisitions accelerate our commitment to build on our breadth of capability, increase our category leadership position, and deliver more excitement and interest to delight our consumers, driving sustained growth in the sector.”
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