Freshfayre acquired by RCapital
Family chilled food business bought after 25 years of trading
Family-owned food company FreshFayre has been acquired by RCapital the London based investment boutique whose portfolio includes Little Chef.
The chilled food business has been in trading for over 25 years but will now continue as a part of a bigger group after receiving an undisclosed sum for the majority of its shares. “We are very excited by this development and pleased to welcome RCapital onboard,” said Gary Bell, who will remain as managing director following the deal. “In addition to giving us the financial resources we need to carry out our expansion plans, RCapital also bring key skills in business strategy, strategic planning and financial management, which we envisage will deliver enormous value to the company as we accelerate our growth across the country.” As a part of the agreement, Chris Langridge, who is also chairman of a number of other RCapital companies, has been appointed as executive chairman of FreshFayre. Jamie Constable, chief executive officer, of RCapital, explains his company’s reasons for funding: “Although Freshfayre needed additional capital to fulfil its aspirations for growth, we have invested in the company because we believe it has huge development potential. “It also makes a lot of sense for us to further strengthen our position in the food sector given our involvement with Little Chef.” © Crimson Business Ltd. 2008