FINE Food Holdings is targeting further acquisitions after extending its reach across Scotland with the acquisition of two specialist food companies.
Clarks Speciality Foods and Wild Tastes have been acquired by the investment company in a deal worth £1.46m. Both supply premium, specialist products to the foodservice sector, and speciality retailers across Scotland.
The deal was funded by Clydesdale Bank.
Fine Food Holdings owners Allan Currie and Stuart Robinson are both established investors in the food and drink sector with coffee roasting and bakery businesses to their name.
They set up Fine Food Holdings in September last year and chairman Mr Robinson commented: “We’re always on the lookout for opportunities to expand the business further, primarily through acquisitions, and we look forward to working with Clydesdale Bank to continue our growth.”.
Wild Tastes is now a wholly-owned subsidiary of Clarks, following the deal.
Mr Robinson said: “Both companies enjoy strong reputations among Scotland’s top restaurants, hotels and other food outlets. The products and services they provide complement our other high-end food and drinks companies.”
Together, the companies have around 35 employees and a fleet of 10 vehicles.
Based in Penicuik, Clarks Speciality Foods was formed in 1993 and specialises in selling speciality food products including fine cheeses, chocolate and charcuterie to some of the country’s top hotels, restaurants and delicatessens.
Differing from Clarks’ model of pre-order and delivery, Wild Tastes sells cheese, deli, seasonal game and other fresh produce through van sales.
“As well as increasing our product offering and workforce, these acquisitions also expand our geographical reach in Scotland,” said Mr Robinson. "Although Clarks is based outside of Edinburgh and Wild Taste is in Glenrothes, they both serve restaurants up and down the country.”
The deal was facilitated by Clydesdale Bank relationship manager Michael Mackie at the Edinburgh customer banking centre.
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