Langford’s, a Welsh meat-products manufacturer, has been acquired by Literacy Capital and industry veteran Mark Chantler.
While financial details of the transaction were not disclosed, the deal saw the publicly listed Literacy Capital and Chantler “invest 50:50” in Langford’s, the investment firm told Just Food.
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In a statement, Literacy Capital described Langford’s, which is focused on producing sausages, as a “trusted brand with deep heritage” in food manufacturing.
Founded in 2003 by John Langford and Christine Gethin, the business will continue under the leadership of Christine’s son, Josh Gethin, as managing director.
Literacy Capital added the investment “facilitates the retirement” of the founding duo.
Richard Pindar, co-founder and CEO of Literacy Capital, said: “We have appraised several food manufacturing businesses over a reasonable period with Mark and are delighted that Langford’s is the first business to join the newly created Red Sky Food Group.”
Literacy Capital invested in Langford’s through Red Sky Food Group, a vehicle the investor set up with Chandler to make acquisitions in the food industry.
Chantler, the former CEO of dairy ingredients specialist Meadow Foods, will become executive chairman of Red Sky Food Group.
According to Literacy Capital, Langford’s represents an “attractive platform investment” for the group, which will look for more acquisitions within the food manufacturing sector, with a focus on protein-based products.
Langford’s operates from its factory premises in Welshpool, Powys, employing 40 staff members. It supplies the foodservice sector.
For the financial year ending 31 October 2024, Langford’s reported turnover of £14.8m, up 1.8% from the previous year.
Operating profit rose by 35.6% to £2.7m and net profit increased 30.6% to £2.1m.
Announcing its results in March, Langford’s forecasted an increase in turnover for the financial year ending 31 October 2025.
The company said at the time its “current premises have plenty of spare space for growth” as the “facility produces 500 sausages per minute using one production line and already has the machinery in place for a second line”.
