The sale of Chaucer Foods

Chaucer Foods, a leading global food ingredients business with a focus on health and wellbeing, has been sold in a trade acquisition by Nagatanien Holdings Co. Limited in a deal worth $130m

Chaucer Foods is a $145m global producer of freeze-dried foods and specialist bread products servicing major brands and businesses such as Kelloggs, Nestle and Unilever.  The acquisition by Nagatanien, a Japanese-based manufacturer and distributor of premixed and instant food, brings together two well-established and successful businesses with a central focus on health and wellness products and natural ingredients.

This transaction provides an exit for Endless LLP, which acquired its stake in Chaucer Foods in March 2012.  Since that time the business has grown its sales by 70% and improved EBITDA by 80%.   The transaction delivers a market leading 5.0x return for Endless.

Michael Rice, Associate Director at Endless LLP, said: “Chaucer Foods is undoubtedly a global leader in supporting multinational food brands.  Led by Andy Ducker, the management team have genuinely transformed the business into a key strategic partner in its customers’ supply chains. Endless are delighted to have backed and supported Andy and the team over the last four years – the excellent exit we have achieved is down to their hard work and dedication and we wish them every success in the future

The shareholders of Chaucer, including Endless LLP, were advised by Piper Jaffray, Squire Patton Boggs and KPMG.