Meatsnacks Group, the UK-based jerky and biltong supplier, has been sold to the owner of rival business New World Foods, the company behind the Kings brand of meat snacks.
A filing with Companies House dated 6 March shows Tony Quinn, who acquired Australia-based New World Foods last year, has taken control of Meatsnacks Group. A filing on the same date shows the end of significant control of Meatsnacks Group being held by managing director James Newitt.
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By GlobalDataThe deal was confirmed by York-based New World Foods (Europe) when the company was approached by just-food. The company directed our enquiries to its general manager, Charlie Simpson-Daniel, who has yet to respond to a request for comment. On LinkedIn, Simpson-Daniel has confirmed the transaction with the post: “Very exciting times in the ambient meat snacking space. Delighted with this result, watch this space and some of the incredible products we are about to bring to the shelves. Also, another massive announcement next week…”
New World Foods (Europe) manufactures a range of meat snacks and supplies biltong and jerky to supermarkets and retailers in the UK. The business is part of Australia’s New World Foods, which also sells its products in markets including Japan and South Korea.
At the centre of New World Foods (Europe) is Kings Elite Snacks, which Simpson-Daniel, his brothers Mark and James and fellow former England rugby international Mike Tindall set up in 2010 before selling to New World Foods in 2014.
Meatsnacks Group, based in Milton Keynes, north of London, markets brands including Wild West jerky and Cruga biltong. In the UK and Ireland, the company manufactures and distributes jerky products under the Men’s Health brand in partnership with the US-based consumer magazine of the same name. It also makes jerky products under private-label contracts for retailers such as Marks and Spencer in the UK and Lidl in Europe. Outside the UK, Meatsnacks Group exports to more than 25 countries.
Meatsnacks Group in its present form was created in 2015 when The Jerky Group merged with biltong supplier Cruga. The two companies had been working together, with The Jerky Group distributing Cruga’s products and its own jerky lines being packed for retail by the biltong manufacturer.
The most recent set of accounts available for Meatsnacks Group at Companies House cover the year to 31 July 2017. They show sales in that year reached just under GBP13m (US$17m), versus GBP12m for the previous 12 months. The company cited “market pressures” for a decline in operating profit from GBP490,697 to GBP357,758. The business made a loss of GBP80,055 – compared to a profit of GBP276,347 – as it lapped a year when it booked more than GBP350,000 “profit on sale of operation”.
In commentary alongside the financial report, Meatsnacks Group said: “The meat snacks market within the UK and Europe continues to expand and the company remains the largest supplier of beef jerky and biltong products on the continent. Given recent investment in the business, the company is well placed to grow revenue and profitability into the future.”
