Strathmore Foods, the UK ready-meals producer, has been acquired by local private-equity firm Foresight Group in a management buyout.
The founding Nisbet family has retained a minority stake in the business.
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The stake size and other financial terms were not revealed.
In a statement, Foresight Group said it would support the manufacturer’s bid to expand its business across the foodservice, contract manufacturing and retail channels.
Strathmore turns out roughly 15 million frozen and chilled meals each year.
Alongside making own-label ranges for UK supermarket chains, the business manages a portfolio of consumer labels that includes Craft Mac Co., Scottish Favourites, and chilled ready meal brand McIntosh of Strathmore.
The company employs more than 115 people.
The most recent publicly available accounts for Strathmore cover the year to 28 June 2025. According to figures lodged with Companies House, the UK business register, Strathmore generated a turnover of £20.1m ($26.6m), up 4% on 12 months earlier.
The company booked operating profit of £2.6m and a net profit of £2.1m, versus £2.3m and £1.7m the year before.
Ryan Finesy, the senior investment manager at Foresight Group, said: “Strathmore is a high-quality food manufacturing business with a leading position in the Scottish ready meal market, longstanding customer relationships and a strong track record of growth.”
Strathmore sales director Neil MacRae is stepping into the role of managing director to succeed Julie Nisbet.
According to Julie Nisbet, the partnership with Foresight “creates opportunities to invest further in our people, our customers and our capabilities, ensuring Strathmore Foods remains a leading food solutions provider”.
Additionally, Foresight has brought in Mark Steven, the former managing director of Highland Spring, to chair the board.
