PAI Partners portfolio company The Compleat Food Group has acquired British chilled foods businesses SK Foods and Zorba Foods from The Entrepreneurial Food Group. Financial details were undisclosed.
The strategic acquisitions are part of PAI’s plans to turn Compleat Food Group into the UK’s “number one chilled prepared food company,” said a statement.
Compleat was created in 2020 when PAI simultaneously acquired chilled savoury pastry producer Addo Food Group and chilled food supplier Winterbotham Darby, both of which are British companies.
The platform company acquired organic, plant-based cheese producer Palace Culture in October.
SK Foods was established in 1987 and specializes in globally inspired party foods including Indian, oriental, Tex-Mex, Mediterranean and traditional British.
Compleat Food Group said SK Foods accounts for 40 percent of the market share for private label party foods outside the Christmas period and became part of The Entrepreneurial Food Group in 1999.
Wales-based Zorba Foods was formed in 1976 and offers a range of Greek, Tex-Mex and Asian-inspired dips, sauces and soups for retail and foodservice. Compleat Food Group believes the business holds around 25 percent share of the UK private label dips market and became part of the Entrepreneurial Food Group in 2003.
The two businesses have a combined turnover of more than £160 million ($201 million; €187 million) and over 1,150 employees.
Compleat Food Group chief executive Nick Field said in a statement: “We’re incredibly excited about these two significant additions and what they bring to the group, with both companies having strong heritage in their categories for creating great food that people love. We plan to continue investment in both companies to extend their respective capabilities, allowing us to further innovate and inspire within their categories.
“For The Compleat Food Group, these acquisitions accelerate our commitment to build on our breadth of capability, increase our category leadership position and deliver more excitement and interest to delight our consumers, driving sustained growth in the sector.”