County Down food-to-go specialist Around Noon has bought a London-based peer for an undisclosed sum.
The acquisition of The Soho Sandwich Company sees the Newry company add 300 staff to its headcount and is the third since the management buyout of the business by chief executive officer Gareth Chambers and chair Howard Farquhar in 2016. In that time it has grown substantially and is now ranked as one of the largest manufacturers of sandwiches and other food-to-go in the UK.
The move brings total headcount at the firm to 800 and total revenue of £80 million a year.
The Soho Sandwich Company will continue to operate under its own brand under existing managing director Daniel Silverston. It has recently completed a new production facility in north London and counts a range of blue-chip clients from across the food service, retail, events and hospitality sectors.
“We’ve been admirers of The Soho Sandwich Company for some time,” Gareth Chambers, CEO of Around Noon Foods, said. “The business has a strong reputation for quality, excellence and innovation. This represents a fantastic opportunity for all involved due to the incredible alignment in terms of our values and core purpose.”
The Soho Sandwich Company has been in business for more than 23 years, having been founded as a small coffee shop in North London. Today it manufactures and distributes more than 15 million sandwiches every year which are eaten throughout the UK.
“Around Noon is in our view one of the most innovative and exciting FTG companies in the UK,” Daniel Silverton, managing Director of Soho Sandwich Company, said. “The opportunity to become part of the Around Noon Group is a huge win for our business.
“There are great synergies in terms of ambition and culture and the move is extremely beneficial, for our team and our customers.”
Around Noon, which was founded in Newry more than 30 years ago, completed the acquisition with support from Barclays Bank. Around Noon was advised on the deal by 3Volution, Sentio Partners, KPMG and Parisi Tax. The Soho Sandwich company was advised by Sherrards and WMT.
