Flagship Food completes acquisition of Atlantic Foods

US-based food and consumer products company Flagship Food has completed the acquisition of Atlantic Foods, a provider of menu solutions to the UK foodservice market, for an undisclosed amount.

The deal will bring together two businesses focused on developing, sourcing, manufacturing and distributing a wide range of food products for retail and restaurant customers.

Flagship Food stated that the acquisition of Atlantic Foods will boost the company’s international presence, while adding a range of foodservice products and customers.

The combined business, which operates seven facilities in five time zones, is expected to generate approximately $300m in revenues annually.

Flagship Food CEO Rob Holland said the acquisition is an opportunity for the company to further develop its global food business, building on the successful acquisitions it has achieved to date.

"It will provide new competencies for us in the fast growing food-service markets and extend our geographic footprint into Europe," Holland added.

Russell Maddock and Edward Baker will retain their positions as CEO and managing director, respectively, of Atlantic Foods.

Russell Maddock said, "Our new partnership with Flagship represents the perfect fit for our company."

Flagship Food was advised by Fladgate, Nixon Peabody, and Deloitte, while Atlantic Foods was advised by PDT Solicitors, Stamford Partners and KPMG.

Flagship Food, based in Los Angeles, California, is majority owned by CREO Capital Partners and employs more than 500 people.

The company supplies frozen, shelf-stable, and fresh products into the retail and foodservice markets as well as food packaging and logistics services for corporate customers worldwide.

Atlantic Foods is a supplier and manufacturer of innovative menu solutions to the UK foodservice market serving casual, delivery, and pub chains and has annual sales of over £50m.

---

Image: The acquisition of Atlantic Foods will boost Flagship Food’s international presence. Photo courtesy of PRNewsFoto/Flagship Food Group.