UK food group Northern Foods has acquired Ethnic Cuisine, a Wales-based preparerd foods supplier specialising in Oriental products, for an undisclosed sum.
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Northern Foods said the acquisition supported its growth strategy, and would allow it to “consolidate its number one position in the ready meals market and widen its existing ready meals customer base”.
As of 31 March, Ethnic Cuisine had gross assets of GBP13.9m (US$28.7m) and annual revenues of GBP24m.
The company supplies chilled ready meals and snacks to Sainsbury’s, the UK’s third-largest supermarket chain.
Northern Foods said Ethnic Cuisine’s founder and managing director, Meng Yap, is to remain with the company in the short term to ensure a smooth transition of the business.
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By GlobalData“This acquisition gives us further competitive strength in the ready meals market, and is in line with our previously stated strategy of developing this growing market and expanding our customer base,” said Northern Foods CEO Stefan Barden.
“Meng and his brother Steve have built Ethnic Cuisine into a profitable business, with a strong reputation for producing high-quality ready meals.”
