The value-added ingredients businesses, Meadow, has announced its acquisition of Naked Foods Limited, a manufacturer of fruit and confectionery sauces for UK and Irish food companies.
Naked Foods, established in 2003, has grown organically to now providing over 300 recipes and several thousand tonnes of sauces each year. The products include fruit preps for yogurts, dairy drinks, ice cream and plant-based products, as well as sweet and confectionery fillings for bakery and dessert products.
Meadow said the acquisition allows it to expand its portfolio into new product areas while enabling customers to benefit from the synergies between the businesses, including product knowledge and manufacturing expertise.
Raj Tugnait, chief executive of Meadow, commented: “For some time our customers have been urging us to enter the sweet sauce category. It is an adjacent category and a natural extension to what we already do. There is a gap in the market for an agile player who can develop, scale-up and manufacture fruit preparations and Naked Foods has an enviable reputation for its quality and nimbleness. The team and culture felt right to be part of the Meadow family. Adding sweet sauces allows us to further diversify our portfolio and strengthen our position as a leading supplier of quality food ingredients. Meadow has a three-pronged growth plan –organic; growing with our existing customers and in existing categories, inorganic; building new capabilities in house; and finally acquiring quality businesses that will compliment Meadow and make it a better proposition for its customers. Naked Foods fits perfectly with that plan.” Meadow will support the Naked Foods team to accelerate their own ambitious growth plan.
Meadow’s continuing growth
This acquisition is the latest from Meadow following the purchase of Nimbus Foods, also in the confectionery space, and it said it is a further step towards Meadow delivering on its business growth strategy.
Meadow partners with the world’s biggest food manufacturers to solve complex challenges. Specialists in the dairy, confectionery and plant-based industries, its ingredients are found in many food brands. The company now employs over 500 people across five BRC AA and A* accredited sites in Chester, Peterborough, Holme-on-Spalding Moor, Dolgellau and Headcorn.
