Private equity firm Ardenton Capital Corporation has invested in Food Innovations, which makes specialist products for the home baking and retail market.
Food Innovations was founded in 2004 and is based in Manchester. It manufactures edible and non-edible home baking products including cake decorations, cupcake cases and cake boards.
The business has more than 250 employees and annual revenues of more than £34 million.
As part of the deal Ardenton is also acquiring baking product businesses Doric Cake Crafts, Doric Crimped and Doric FPD alongside Food Innovations. The co-founders, Peter and Robert Ward, will exit the business but will retain ownership of Doric Anderton.
The investment by Ardenton will be used to pursue additional complementary acquisitions and drive further organic growth.
Michael Bradbury, Director of Ardenton UK, said: “Food Innovations is an impressive business which is really innovating within its sector. Over the last few years the company has delivered strong organic growth while successfully integrating complementary acquisitions and we confidently back the management team to push the business through its next phase of growth.”
Robert Brace, Sales and Commercial Director at Food Innovations, added: “The partnership with Ardenton will enable the company to pursue new opportunities for innovation, acquisition and growth.”