UK-based Freshcut Foods has initiated a management buyout led by chief executive David Bondi in partnership with private-equity fund Perwyn.

Perwyn said the Nottingham-based firm was acquired from owner managers Adam Clarke and Peter Clee, who will continue to support the business. No terms or financial details of the transaction were disclosed.

Freshcut Foods supplies “added-value” vegetables, fruits and carbohydrates to food manufacturers and foodservice operators in the UK. The company has two production sites in Nottingham and employs about 250 people.

CEO Bondi said: “I am delighted that we will be working with Perwyn for the next phase of Freshcut’s development. We will continue to work with customers and suppliers in the same way as we always have, to the mutual benefit of all, including the growing number of Freshcut employees.”

Perwyn’s investment will support the company’s future growth prospects, which include the trend towards healthier, vegetable-based products.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Heinz Holsten, a partner at the private-equity firm, said: “Freshcut is well placed to enable its customers to provide healthier products that consumers are increasingly seeking out.”

Clee and Clarke added: “We have found Perwyn’s culture and values a natural fit with Freshcut. We are both delighted that the relationship has culminated in an investment support for the management team at Freshcut, endorsing an exciting future for the company.”