Donald Russell / Vestey Foods Group
Cavendish Corporate Finance LLP is delighted to announce the sale of Donald Russell, the specialist Scottish butcher and mail order meat supplier, renowned for its fine quality butchery and gourmet food, to Vestey Foods. The price and terms have not been disclosed.
Founded in 1974 and based in Scotland, Donald Russell is a specialist butcher with an unrivalled reputation for the quality of its beef and steaks, which has grown to become the UK’s leading mail order butcher. With a turnover of around £30 million, Donald Russell has built its reputation on supplying quality beef, lamb, game, poultry, seafood, fish and other gourmet product direct to consumers and restaurants around the UK. It also holds the Royal Warrant, delivering regularly to the Royal Household.
Vestey Foods Group is a family owned group, comprising thirteen food companies across 70 countries. It specialises in the import, storage and distribution of a wide variety of meat, poultry, fish and other foodstuffs from global suppliers into the various local market places in which it operates. Vestey Foods Group has a combined turnover in excess of £500m.
Cavendish ran a competitive sale process using its extensive international network to identify a wide range of purchasers. The sale of Donald Russell is the latest in a number of recent food sector transactions for Cavendish, including: Gu, Seafood Holdings, Vitacress and Maximuscle.
Jonathan Buxton, lead partner on the transaction and head of consumer at Cavendish, commented: “it was clear from the outset that there was a good fit between Donald Russell and Vestey and we are delighted that, as well as a successful exit for shareholders, the business has found a new investor which shares its values and is ideally placed to take it on to the next stage.
“Joe Stelzer and his team at finnCap Cavendish were the perfect partners as we navigated this exciting next step for the group. The firm’s wealth of expertise in advising entrepreneurial growth businesses, partnered with their quality of service and professionalism was invaluable and helped make this deal function as smoothly as possible.”
“This transaction is huge for our business as we look to continue our growth journey. We’re very excited to have raised enough capital from a leading impact investor to expand our market-leading position and maintain standards of excellence across all our products. We’re hugely grateful to the team at finnCap, who played a fundamental role, in what we hope, will be a very exciting growth story.”
“I would like to thank all of those involved in the process that has concluded with us ultimately choosing Neighborly as our partner going forward, those at finnCap Cavendish and our CFO Mike Bergin, without whom this would have not happened.”
Thank you to the Cavendish team for your unwavering support throughout this process. Finding a strategic overseas partner to allow me to realise my global ambition was my number one aim, and this has been achieved. In the current market the result you have delivered is exceptional.
It was a great pleasure to work with the Cavendish team again having originally worked with them when we sold Naked Wines to Majestic Wine in 2015. John, Rebecca and the team rigorously assessed the market to find the right new owner for a business with dedicated staff and suppliers and the right deal to achieve Naked’s goal of realising capital and simplifying the business.
“Jonathan, thank you to you and your team for your tremendous support and wise counsel during the process. You kept a calm head throughout and successfully charted a course to bring us to this great conclusion. David, the team and I are all delighted with the outcome as we now join forces with Cafento to build the brand to even greater heights. I would highly recommend your services!”
“The team at Cavendish went far beyond what was expected, supporting us through the entire fundraising process. I am certain that the deal with Piper would never have completed in the time frame without their help.”
Jonathan, thank you for all your help, sound advice and hard work over the last year. You very skilfully guided us through a challenging process. As well as a fantastic exit for some very happy shareholders, there is no doubt in my mind that Orlebar Brown has ended up in the right place. Your patience was rewarded!
“Cavendish worked hard and achieved an excellent result for stakeholders. I would certainly recommend their services.”
“The Cavendish team did an excellent job and provided expert advice throughout the transaction and most importantly ensured the deal crossed the line. I am pleased that Jollyes has passed into experienced hands and I truly believe the business has an exciting future ahead.”
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