MHA Corporate Finance Team advises on acquisition of Fourayes by Puratos UKOctober 10th 2022
MHA Corporate Finance (“MHA”) has announced its role as broker for the sale of Fourayes, the UK’s largest grower and processor of fruit, to Belgian multinational, Puratos.
The acquisition of Kent-based Fourayes, known for its production and supply of fruit, pie fillings, industrial jams and mincemeats, expands Puratos’ reach in the European market and strengthens its strategy for responsible, transparent and local food sourcing.
Fourayes will benefit in being part of a multinational company with representation in 100 countries globally and a turnover of €2billion.
MHA, a leading UK accountancy, auditing and corporate financial advisory firm, has supported Fourayes since 2020. Led by partner Mark Lumsdon-Taylor, MHA helped deliver a revamped financial framework, updated approach to governance, and has implemented a dynamic ESG strategy.
The transaction to Puratos was managed by James Lawson, Partner in the Corporate Finance team, and MHA remains engaged with the business as the new owners align operations to their global framework.
Julia Darvill, Managing Director of Puratos, commented:
“We are excited to continue Fourayes’ proud legacy supporting British farming, providing farm-to-fork transparency and demonstrating exemplary ESG practices.Our relationship with Fourayes first took root back in February, when we partnered to launch a unique range of real fruit and vegetable pieces, and in the succeeding months our connection has grown even deeper.
“We found Fourayes to be an ideal fit for Puratos, both being family-run, customer-focused, heritage-rich businesses with innovation, people and traceability at their core. We are committed to upholding and building on Fourayes’ reputation as a first-class farm and factory and look forward to a fruitful future.”
Phil Acock, Managing Director of Fourayes, added:
“As businesses, Fourayes and Puratos are aligned in their goals and they’re both resolute in their dedication to adding value for customers and innovating for good.
“We believe that together we are stronger, and the bringing together of these two ingredient powerhouses has untold potential. I am confident the synergies between Puratos and Fourayes will unlock further growth and value for our customers and help them to cater to the call for healthy options, transparency and integrity from increasingly conscientious consumers.”
Mark Lumsdon-Taylor, Partner at MHA, said:
“I have been privileged to work with Phil Acock and Fourayes’ dedicated and hard-working staff to finalise the deal with Puratos. The opportunity to create a world-leading manufacturer of fruit fillings, bakery and English Bramley apple products is fantastic. I am proud to have been a part of this work.
“One of the largest sales of a business in the Kent fruit sector, I have every confidence that, as a part of Puratos, Fourayes will go from strength to strength”
Find out more
If we can help with your business acquisition strategy, please get in touch with one of our corporate finance advisers by completing our online enquiry form