Freshfayre acquired by turnaround specialist
Article Date: Sep 29 2008Turnaround firm RCapital has acquired a majority stake in nationwide chilled food supplier Freshfayre for an undisclosed sum. Freshfayre’s MD Gary Bell, whose family owned the company for 25 years, remains in his role.
Says Bell, ‘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.’
RCapital’s CEO Jamie Constable says that the acquisition strengthens the firm’s position in the food sector after its purchase of Little Chef, the roadside restaurant chain that it rescued from administration last year.
Constable comments, ‘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.’
Chris Langridge, the chairman of a number of RCapital-owned companies, has been appointed as executive chairman.
