Export focus for AFF after deal
Food manufacturer and exporter The Abergavenny Fine Food Co (AFF) has outlined details of its future plans after selling its blended cheese business to Somerdale International, in a deal advised on by Greenaway Scott (part of the GS Verde Group ).
The business said the sale would enable it to focus on expanding and developing its exports and value-added lines.
AFF has been experiencing significant growth in the chilled and frozen dairy sector as well as its plant-based and vegan ranges over the last five years. As part of this growth the AFF have seen a substantial increase in export markets from 8 per cent in 2017 to 20 per cent in 2020.
Managing director Jason Rees said: "The decision to close this chapter has not been taken lightly, but strategically we wanted to focus on more profitable, scalable products to reinforce our growth and future-proof the business.
"We have been partners with Somerdale for many years so passing our blended cheese arm to them made perfect sense and we wish them well as they take the business forward."
AFF will continue to produce its renowned goat's cheese, which was its very first product in 1981.
Greenaway Scott, which is part of the GS Verde group, provided legal advice to Abergavenny Fine Foods. Burges Salmon provided legal advice to Somerdale International.
Article source: INSIDER MEDIA