Hilco Capital has acquired a majority equity stake in chilled and frozen food manufacturer Anglia Crown.
As part of the transaction, Hilco has provided a sizeable additional funding line alongside the business’ existing lenders to support Anglia’s working capital requirements. The business continues to grow at an accelerated pace and is diversifying its customer base into new, complementary sectors.
The existing shareholders, Paul Howell and Andrew Lone, will continue to run the business, working in conjunction with Hilco’s operational and financial consultants to provide additional support as required.
Commenting on the investment, Paul Howell, Director of Anglia Crown, said: “Since commencing the management buy-out in July 2018, Andrew and I have worked tirelessly to develop the business. We decided that we could accelerate the implementation of our business plan through finding a partner who could provide additional financial and operational support, and we are pleased that Hilco have agreed to partner with us as we transform the business”.
A spokesperson from Hilco Capital said: “This is a fantastic business, which has already made considerable progress in improving its financial performance. We are delighted to have completed this transaction, and we look forward to working closely with Paul, Andrew and the wider team as they implement their growth plan.”
About Anglia Crown
Anglia Crown is the only independent chilled and frozen prepared meal manufacturer to the healthcare sector in the UK. Founded in 1992, the business has historically focussed on the healthcare sector, working with over 100 hospitals in the UK.
In 2018, Andrew Lone and Paul Howell completed a management buy out with a plan to develop new products and target new markets including leisure, travel, business and industry, hospitality and other complementary markets.