Flywheel Partners has invested into Freshcut Foods, the producer of high-added value plant-based ingredients. This substantial transaction sees Flywheel take a majority stake in Freshcut, partnering with the company’s management team who are significantly increasing their stake in the business.
Freshcut supplies more than 300 bespoke products to over 40 customers that include leading foodservice brands, food manufacturers and online recipe kit providers. Established in 2003, the company employs over 320 staff across three adjacent manufacturing facilities in Nottingham, all of which are BRC AA Grade accredited – the highest food standard awarded.
The business has experienced strong growth in recent years, solidifying its position as a market leader. To help support this growth, there has been significant investment into capacity and efficiency initiatives, which will enable future expansion.
The company has benefitted from the rise in ‘flexitarianism’ where consumers are increasingly incorporating vegetables and other plant-based products into their diets for health, sustainability and financial reasons. Rising health consciousness, greater environmental awareness and climbing meat prices have encouraged many consumers to turn towards more plant-based products and diets.
Avital Lobel, managing partner at Flywheel, said: “Freshcut Foods is a hugely exciting business with great potential for future growth. The Freshcut team are industry leaders with whom we share a common set of values and vision for the business.
“The growth that Freshcut has delivered in recent years is testament to the quality and relevance of its products to today’s foodservice and food manufacturing businesses and consumers.
“We expect the ever-growing awareness of the health, cost and environmental benefits of plant-based foods to continue driving future growth. We really look forward to partnering with Chris and the team at Freshcut.”
Chris Copestake, Chief Executive of Freshcut, said: “We are hugely excited to be partnering with Flywheel in the next stage of our growth journey, as we continue to provide customers with natural plant-based food solutions through industry-leading innovation.
“Flywheel Partners’ experience in the food sector, their entrepreneurial spirit and strong cultural fit makes them the perfect partner to help drive our development over the years ahead.”
The financial terms of the transaction were not disclosed.meat plant-based investment industry