New owner for Corby-based fresh fruit firm after sale deal

Orchard House, in Manton Road, and which employs 1,000 staff, has been acquired by Leamington Spa based private equity fund Elaghmore from Hain Celestial Group.

Orchard House, which has a supply chain that sources and prepares a range of exotic fresh fruits from across the world, is one of the UK’s largest suppliers of prepared fruit, fresh fruit drinks and desserts with a client list including Marks & Spencer, Morrisons, Pret A Manger, Sainsbury’s and Tesco.

Andy Ducker, co-founder of Elaghmore, said: “Orchard House is a market-leading business which supplies products that many UK customers buy daily.

“We are very proud that we will be part of Orchard House’s growth and development as we look beyond Covid-19.

“Orchard House is a flagship investment for Elaghmore, and our financial strength and operational expertise means we can help it prosper.”

Mr Ducker said that Orchard House, which also operates additional facilities in Gateshead, fitted Elaghmore’s investment strategy, which is to use its executive team’s operational skills to deliver significant growth and value creation.

Elaghmore founders Mr Ducker and David Manning have experience working with a global fruit business as investors and executives at Chaucer Foods, which they developed and sold in a deal worth $130 million.

The acquisition is Elaghmore’s 10th deal.

Its previous nine acquisitions have been combined to create three distinct businesses: Total Vehicle Solutions Group; Alucraft & EAG; and Hexcite Group.

Together, the three groups have a combined annual turnover of £170 million and employ more than 900 people across the UK and Europe.

Mr Ducker added: “Elaghmore’s deal pipeline is full of interesting opportunities.

“The pandemic has seen the need for many successful companies to seek new investment, especially as Government support schemes end, and bank support is limited.

“Elaghmore is well placed to help these companies, and we look forward to continuing to create significant value for our investors.”

Elaghmore was advised on the Orchard House by global investment bank Houlihan Lokey, financial and tax advisers EY and Squire Patton Boggs in Leeds on legal matters.