East End Foods, the UK-based supplier of Indian foods, is to have a new owner from the private-equity arena.
just-food understands Exponent Private Equity, an investor in UK dairy ingredients firm Meadow Foods and former backer of meat-free group Quorn Foods, is to acquire East End Foods, founded in the English Midlands in 1972.
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Exponent has so far declined to comment. “Unfortunately we are not in a position to provide any comment or guidance on the rumoured acquisition of EEF,” a spokesperson for the private-equity firm said.
East End Foods director Roger Wouhra, a son of one of the four brothers who set up East End Foods more than 40 years ago, said he had “no comment from East End at this stage”.
The most recent accounts filed at Companies House for the privately-owned East End Foods cover the year to the end of April 2018. Turnover stood at GBP191.3m (US$238.4m), up from GBP185.4m in the previous 12 months.
The rise in turnover contributed to higher operating profit – which grew from GBP8.9m to GBP9.2m – and higher net profit, which hit GBP7.2m, versus GBP6.9m in the 12 months to 30 April 2017.
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By GlobalDataEast End Foods’ portfolio takes in a range of products from rice and spices to canned food, condiments and sauces.
