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Lincolnshire based Parnutt Foods has been acquired by Volac International, a leading international dairy nutrition group, in a transaction originated by Cooper Parry Corporate Finance.
Parnutt Foods is a successful and well-established specialist in young animal nutrition, with a particular focus on piglet and pet nutrition. Formed in 1985, the business has a strong reputation for product quality and customer service. The company’s founders, John Gibson and Paul Lane, will remain as directors of the company.
Volac and Parnutt Foods have worked together for a number of years and the acquisition will allow both companies to work with their customers by combining their joint knowledge to develop their young animal feed businesses in the piglet, equine and pet food markets across Europe.
Cooper Parry acted for the vendors. Corporate Finance Director Matthew Proudlove commented, "Our clients built up an impressive business and it strongly complements Volac’s product range. The deal will provide an exciting platform for further growth."
The vendors received legal advice from Gavin White, Corporate Partner at Fraser Brown who added "This was a great deal to work on – Parnutt are leaders in their field and with the Volac network behind it the business looks likely to go from strength to strength."
The terms of the transaction were undisclosed.
