MBO sees Glendale founders exit

MBO sees Glendale founders exit

Management of UK food manufacturer Glendale Foods have taken full control of the group following a partial shareholder buyout for an undisclosed sum. 

Managing director Paul Burkitt and operations director Mark Jones have assumed full control of Glendale, after the purchase of the remaining shares in the company held by founding shareholders outgoing chairman John Mortimer, Gill Mortimer and Pam Mortimer. 

Glendale was founded in 1982 and produces the Great British Pudding Company and Yankee Snacks brands. Last year it generated a turnover of GBP20m (US$29.2m). The group specialises in processing meats, cooked components, vegetables and flour based products for sale into retailers, wholesalers, food manufacturers, airlines and restaurant groups both in the UK and abroad.
 
MD Burkitt said that the company would now focus on moving to the "next phase" of development. He commented: "This is an exciting period for Glendale and this transaction represents the next phase in our development. Glendale's success is based on a platform of product innovation, customer relationships and service, working closely with our client base to produce new and exciting products. We look forward to building on the existing customer base to further drive growth and capabilities."