Catering supplier Stuart’s Foods has taken over Lancashire-based competitor S Clift in a deal that could be worth up to half a million pounds.
The acquisition will see Stuart’s Foods double in size as it looks to expand into new product offerings and territories. The company, which operates from a warehouse on the outskirts of Scarborough, will acquire S Clift’s premises in Grimsby and take on its 13 staff, expanding its current business.
Among other fruits and vegetables, Stuart’s currently delivers over 500kg of potatoes to its customers each year.
It was reported that the Stuart's Foods plans to maintain the S Clift company name “in recognition of its rich heritage and strong customer and supplier relationships.”
At the same time, the company plans to invest a further £500,000 in S Clift over the next five years. Upgrades will include applying for industry food handling accreditations and new refrigerated vans.
The purchase is likely to be the first in a series of acquisitions by the Scarborough-based supplier as it looks to take over complementary businesses including, potentially, butchers, bakers, delis and food wholesalers.
S Clift, a third-generation family business, was originally set up in 1927. The opportunity for Stuart’s to purchase it came up after the most recent owner wanted to retire at 67, and his children were no longer interested in running the business.
The deal will extend Stuart's Foods' reach to include towns such as Hull, York, Lincoln, Harrogate, Thirsk, Northallerton, Whitby, Malton and Skegness.
The client base of the extended business now includes major players like North Yorkshire County Council, York Teaching NHS Trust (including the Scarborough and Malton hospitals), McCains, the Grimsby Institute college and Yorkshire Coast College.
“We’ve built up a strong understanding of the catering trade over the past four decades and we’re passionate about promoting and supporting the whole healthy eating agenda,” said Stuart’s managing director Damian Howarth.
“The acquisition of S Clift will support this by opening up a new network of suppliers and customers on the south bank of the Humber.”
He added: “We’re proud to say that Stuart’s Foods has gone from strength to strength over the past 30 years since our parents set it up and this deal represents the beginning of what we hope will be a phase of serious expansion through acquisition.”
Stuart's Foods, established in 1986, has a client list that includes hotels, restaurants, local authorities, food producers and staff canteens and now serves in excess of 800 clients on a daily basis.
