Samworth Brothers has increased its stake in Higgidy to become the brand’s majority shareholder.
Samworth, which acquired a minority stake in Higgidy in 2019, said despite having upped its stake, Higgidy would remain a separate business with a separate leadership team and its own manufacturing facilities.
Samworth Brothers CEO Flor Healy said the business was “delighted to be a part of the next chapter in Higgidy’s development”.
“The brand fits well within our own strategic priorities in terms of owning distinctive brands, strength in savoury pastry and food-to-go, and the further development of our plant-based business,” he added.
Higgidy CEO Mark Campbell said both boards recognised it was important to “nurture the entrepreneurial culture at Higgidy”, and that while the savoury pastry supplier would enjoy support from Samworth Brothers, it would continue to drive the brand from its Shoreham-by-Sea manufacturing facility.
The news comes at the end of a successful year for Higgidy, which saw sales rise 28.5% to £33.4m, on volumes up 31.6% [Nielsen 52 w/e 5 September 2020].
Last month, it unveiled a range of vegan quiches and No Pork Pies ahead of Veganuary 2021.