21 November 2007 – Yorkshire-based food company Matthews Group has acquired nuts, seeds and dried fruits processor Quality Kernel for an undisclosed sum, according to local press reports.
West Midlands – based Quality Kernels supplies some of the UK’s leading bakery, cereal, ready meals, snacks, confectionery and desserts manufacturers with a variety of dry ingredients and has annual sales of £5 million.
Matthews Group employs 150 people and has annual sales of close to £25 million. It develops and manufactures a range of value-added food ingredients such as sauces, marinades and toffee inclusions, which it sells to supermarkets and food companies in the UK and Europe. Its customer base includes Sainsbury’s, Tesco’s, Nestlé, Northern Foods and Thorntons.
With this acquisition the group is expanding its portfolio in the specialist food ingredients sector as part of its growth strategy.
Thanks to the deal, Quality Kernel could double its sales over the next five years, the company said in a statement.