Prepared meal manufacturer Anglia Crown ltd has been acquired from previous owners Bakkavor in which the management buyout was led by Paul Howell and Andrew Lone.
New company directors Howell and Lone have taken ownership of the company with a view to positioning the business for growth.
Howell comments: “Anglia Crown is an exceptional company with potential for fast and sustainable growth. This is true in both current and new markets. Our new found independence will enable us to be more market responsive.
“We have an exciting pipeline of new product development for future and will shortly be laying out a brand new environmental platform to help reduce waste and energy whilst still delivering a quality outsourced meal solution.”
Lone adds: “I have been at Anglia Crown overseeing finance and operations for 11 years. We have enjoyed being part of Bakkavor but we are delighted at this opportunity to own and run the business independently.”
He continues: “The timing was right, our client portfolio has fully backed us, and we are supported by our strong senior management team.”
Founded in 1992, Anglia Crown ltd has an annual turnover of £15million and is a chilled and frozen prepared meal manufacturer for the healthcare and complementary markets.
Based in Colchester, the 4600 square metre facility employs more than 160 people, and manufactures approximately 40,000 chilled and frozen meals every week day.
With a brand profile in healthcare, particularly in hospital catering, the new owners are positioning the business to enter additional markets including hospitality, travel, leisure and private healthcare.
Going forward, Howell will be responsible for client retention, sales and growth. Lone will continue to hold responsibility for finance and operations. The senior management team at Anglia Crown remain the same.