Gresham backs Brand`s acquisition of Crosse & Blackwell brands. Purchase boosts Brand`s instant snack food range

Gresham, the private equity house, has backed the acquisition by Leeds-based Brand Partnership of Crosse & Blackwell’s dried sauce and Snack Stop business from Premier Foods. This is Brand’s latest purchase of new products or technology funded with development capital provided by Gresham.

Brand is the UK’s leading supplier of savoury rice, pasta with sauce, soup and hot instant snacks. The Crosse & Blackwell products, which include Creations cook-in sauces, Creamola desserts, Bonne Cuisine pour-over sauces and Snack Stop hot instant snacks, have annual sales of between £7m and £8m.

Brand Partnership director Tim Robertshaw says: "The well-known Crosse & Blackwell brands give us a major foothold in a dynamic marketplace. We see great opportunities to expand the Snack Stop brand into other markets and different snacking areas, using our product development skills to exploit its full potential. The dried food business fits perfectly with our existing ranges and manufacturing capabilities."

Premier acquired the Crosse & Blackwell business as part of its purchase of Nestlé’s ambient food operations in May 2002. It decided to sell the range following a strategic review which concluded it was not core to the rest of the business

Gresham’s Christian Bruning says: "Brand’s strategy of expanding the business by acquiring complementary product and sector ranges which offer synergies in sourcing raw materials and manufacturing is proving highly successful. The company continues to grow and we are happy to provide on-going support for the strong management team."

Gresham originally backed Robertshaw and fellow director Andy Micklethwaite in July 2000 when they bought the Brand Partnership from its owners. In August 2002, Gresham provided Brand with £8m in development capital to acquire new technology and products. Part of that capital funded the purchase of Telford Foods, the dried soups and sauces manufacturer from the Netherlands-based Wessanen group.