UK convenience food producer Adelie Food Holdings has been sold to Indian leisure company India Hospitality Corp (IHC).
IHC has bought Adelie, which supplies products including salads, quiches and sandwiches to UK multiples including Asda, from private-equity firm Duke Street Capital. The acquisition of Adelie is understood to be IHC’s first major investment in UK.
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Explaining the rationale behind the sale to IHC, a spokesperson for Adelie told just-food: “The management team is keen to develop into the next stage of its growth and is harnessing its chilled food manufacturing expertise into territories outside the UK. IHC has a strong track record of investing in successful food businesses around the world and Adelie is its first major investment in the UK.”
Adelie’s customers also include the foodservice sector and airlines. It was formed in 2006 when Duke Street Capital acquired Buckingham Foods and Thomas Food Group. A month later, the company acquired Food Partners and a year later Superior Food Group, a supplier to airlines.
The company declined to give details on the company’s financial performance, but added: “Adelie’s financial performance has been good given the difficult environment in the UK over the last three years.”
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