Fine speciality cheese producer Ilchester Cheese has been sold to Norwegian dairy specialist Tine BA after its private equity owner decided to cash in its investment.
Inflexion Private Equity, which bought a majority stake in Ilchester in December 2004 with a £5m spend, claimed its investors had achieved an internal rate of return in the mid-20s . Tine BA is Norway's largest milk co-op, while Ilchester produces three of the UK's top five fine speciality cheeses - Applewood, Mexicana and Five Counties.
"We are very pleased to have backed the management team in growing the company and are confident it has a bright and exciting future with Tine," said Inflexion investment director Christian Hamilton.
There could be expansion of the company's site if some of the other Tine brands were integrated into the business, said Ilchester MD Melvin Glynn.
Inflexion Private Equity, which bought a majority stake in Ilchester in December 2004 with a £5m spend, claimed its investors had achieved an internal rate of return in the mid-20s . Tine BA is Norway's largest milk co-op, while Ilchester produces three of the UK's top five fine speciality cheeses - Applewood, Mexicana and Five Counties.
"We are very pleased to have backed the management team in growing the company and are confident it has a bright and exciting future with Tine," said Inflexion investment director Christian Hamilton.
There could be expansion of the company's site if some of the other Tine brands were integrated into the business, said Ilchester MD Melvin Glynn.
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