HNH directors Craig Holmes and Richard Moorehead are delighted to act as lead advisors to the sellers on the sale of Foodco.
Over the last 10 years, Foodco has grown into one of the leading foodservice businesses on the island of Ireland, with a significant presence in both the north and south.
The acquisition by Henderson Foodservice allows the shareholders to realise significant value while also positioning the business for further growth.
Foodco was founded in 1985 and is an independently owned company with distribution depots in Lisburn and Ashbourne in Co Meath. It specialises in the supply of bespoke products to the foodservice industry throughout the island of Ireland, courtesy of a fleet of multi-temperature vehicles.
It will operate as a stand-alone business with the existing management and board and will retain its corporate name and identity.
In a statement, Foodco’s board of directors Alan Kelly, Gary McIlroy, Barry Monaghan and Robert Walsh, said:
“This is a great opportunity for the staff and ourselves to continue the expansion of the business by being part of one of the largest foodservice companies in Ireland.
“We have developed our business through excellent customer service, product innovation and strong personal relationships, and being a part of Henderson Group will copper fasten this and provide us with a strong platform to continue our growth throughout Ireland.”
Henderson Foodservice supplies to customers across Ireland including hotels, schools, restaurants, fast food outlets, hospitals, nursing homes, cafes, sandwich bars and retail convenience stores.
Despite Brexit-related uncertainty at a macroeconomic level, we continue to see significant M&A activity and remain bullish as to the deal environment over the coming months.