UK-based The Compleat Food Group has acquired dips and party food specialists SK Foods and Zorba Foods from The Entrepreneurial Food Group for an undisclosed sum.
The two food businesses are active in private-label chilled party foods, dips and deli fillings. They have a combined turnover of over £160m ($200.7m) and more than 1,150 employees.
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Formed in 1987, SK Foods, based in Teesside in north-east England, employs more than 770 people and specialises in globally-inspired party foods including Indian, Oriental, Tex Mex, Mediterranean and traditional British favourites.
According to Compleat, it holds around 40% of the market share for private-label party foods outside of the Christmas period. It became part of US-based The Entrepreneurial Food Group in 1999.
South Wales-based Zorba Foods was formed in 1976. Now employing nearly 380 people at its Gwent site, it started out creating Greek houmous, before expanding to cover a range of Greek, traditional, Tex Mex and Asian-inspired dips and sauces, alongside soups, for the retail and foodservice channels. It holds around 25% share of the private-label dips market, according to Compleat. It became part of The Entrepreneurial Food Group in 2003.
Nick Field, CEO of The Compleat Food Group, said: “We plan to continue investment in both companies to extend their respective capabilities, allowing us to further innovate and inspire within their categories.
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By GlobalData“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.”
Compleat was formed in 2021 when private-equity owner – Paris-headquartered PAI Partners – merged its UK portfolio companies Winterbotham Darby and Addo Food Group, which it had bought the year before.
In December 2021, Compleat, which has the ambition to become the country’s “number one chilled prepared food company”, acquired pie maker Wrights Food Group. Two months ago, it bought vegan cheese business Palace Culture.
The group’s existing brands include Pork Farms, Wall’s Pastry, Squeaky Bean, Unearthed and Vadasz.
Compleat employs more than 3,800 people across ten sites and has an annual turnover of £750m.
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.”
