Scottish savoury flavouring and meat products supplier Dalziel has sold up to US private equity firm Peak Rock.
Completed in late May, the deal saw Peak Rock take a more than 75% stake in Dalziel, with remaining equity divided between the company’s former family owners and management.
Dalziel’s expertise in ingredients for meat products attracted Peak Rock to the deal, according to the firm’s European managing director Alex Dabbous.
He called the investment an “exciting opportunity” to access the growing protein and foodservice end markets. Founded in 1926 as a casings and ingredients distributor, Dalziel has since grown to be a ’one stop shop’ for food processing and retail butchery suppliers.
“Across more than 50 years in operation, Dalziel has demonstrated the consistent, long-term growth profile that we look for in our platform investments,” added the firm’s managing director Michael Graham.
“Peak Rock has significant experience investing in growing food ingredient businesses like Dalziel, and we look forward to building on the strong culture of innovation and history of performance that the company exhibits.”
Peak Rock has carved a niche of investing in mid-sized businesses to pursue rapid growth in partnership with founders or family owners.
Dalziel chairman Ian Darroch said the three owner families – Dalziel, Darroch and Dickens – were excited to partner with the firm.
“Peak Rock has a deep understanding of food ingredients businesses similar to ours, coupled with a track record of driving sustainable growth,” he said.
“The existing family shareholders are delighted to continue as meaningful shareholders in the company.”
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