Symington’s acquired by Italian foodstuff firm

The obtain of the Leeds-based ambient food company incorporates nicely-regarded snacking models these kinds of as Mug Shot, Naked and Ragu. Symington’s also creates individual-label products and solutions for leading supermarkets.

Rumours encompassing the sale of Symington’s started circling in February this 12 months, with a value tag of concerning £80m to £100m reportedly on the desk. Having said that, there were doubts​​ that the ambient meals producer would safe a deal at the greater conclude of the scale.

In a presentation on the offer, Newlat said Symington’s United kingdom distribution system was at operating at around 70% ability and ‘could be made use of for the distribution of Newlat’s foods pasta and bakery category’.

Pasta getting

Newlat added: “Symington’s is obtaining circa £7m of pasta as uncooked components. Newlat Food stuff has c.40% of spare ability and the industrial understanding to cover all recipes and formats.”

The firm claimed Symington’s current buying and selling partnership with Walmart in the US could be designed via the addition of Newlat merchandise.

“The optimization of the capacity could depart a single of the Symington’s production crops free to turn into a pure pasta output plant,”​ it added.

David Cox, Symington’s main govt, reported: “Newlat needs to commit in our company and our brands. It offers extended-term security for our business enterprise with an intercontinental ambient and dairy foods player functioning in mutually beneficial groups and is an thrilling time for us equally.

Development internationally

“By bringing jointly equally companies we can blend our strengths, speed up our expansion and raise our worldwide footprint. Symington’s provides a powerful springboard for Newlat’s models into the British isles current market and Newlat gives us even more options for us to mature our models internationally the place Newlat has operations – in Italy and Germany.”