By Scott Wright
INVERLEITH, the Edinburgh-based investment company, has expanded its portfolio by acquiring a majority stake in a Yorkshire online butchery specialist.
Ripon-based Farmison declared it now has the “backing to take the business to the next stage” further to the deal, which comes shortly after Inverleith acquired a majority shareholding in Eden Mill, the St Andrews gin and whisky distiller.
Farmison, which was founded by John Pallagi and Lee Simmonds in in 2011, is described as a leading player in the growing online premium meat and butchery market. It employs about 100 people and turned over £15 million in its most recent financial year
A statement said the company works with shepherds and herdsmen in areas of natural beauty, such as North Moors National Park, the Yorkshire Dales, Yorkshire Wolds and the Lake District, who follow the principles of traditional animal husbandry.
The investment will allow Farmison to introduce more consumers to its “traceable and sustainably sourced beef, pork and lamb breeds,” it added.
Mr Pallagi will continue to lead the business following the Inverleith acquisition, supported by the existing management team, and a new board of directors. The new board is chaired by Christine Cross, a highly experienced non-executive director.
Mr Pallagi said: “We now have the backing to take the business to the next stage and for our mission to encourage more people to eat better meat. This is a pivotal moment not just for the future of Farmison but for the sector. We have spent time searching for the right partner to take our business forward and to realise our ambition of delivering better meat, ethically and sustainably sourced, from heritage and rare British breeds, to consumers up and down the country. This investment will help drive production standards across the wider sector, help educate consumers and help us explain more powerfully why better meat is better for customers, the planet and the long-term success of the farming sector in the UK.”
Ben Thomson, chairman of Inverleith, said: “We have admired Farmison & Co for some time, supporting its vision for the future of the premium consumer meat industry. As consumers adopt increasingly flexitarian diets, they are increasingly choosing high quality, great tasting meat which has a traceable, local supply chain, delivered ethically and supporting a sustainability agenda.”
“All these elements have been set at the heart of Farmison & Co.
“The value and principles of Farmison strike a chord with modern day consumers and in Inverleith’s care, we will strengthen these product qualities and company values, helping more consumers ‘eat better meat’.I’m delighted to welcome Farmison into Inverleith’s collection of premium consumer brands, where it makes a great addition to our portfolio.”
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