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Chaucer

Formed in 1982, Chaucer is a global foods business that specialises in designing and manufacturing ingredients that are used in a variety of sweet and savoury convenience and snack foods.

Chaucer is a speciality lies in in freeze-dried foods as well as the manufacture of croutons and other bread based product, selling products into multinational food producers and retailers in over 30 countries across the world. Its customers include Kellog’s, Heinz, Unilever and Starbucks.

Endless invested in Chaucer in 2011 and the company now employs well over 500 people and has sites in the UK, France, China and the US. Caird Capital invested August 2015 to support further expansion in the US where it now has a research and development facility in Battle Creek, Michigan and a manufacturing facility in Portland, Oregon. Caird Capital invested August 2015 to support further expansion in the US.

Chaucer was acquired by Japan's Nagatanien Holdings in December 2016. Since the initial investment by Endless, the business had grown its sales by 70% and improved EBITDA by 80% by the time it was sold. 

Chaucer

Private equity impact

  • CREATED A TRULY GLOBAL BUSINESS WITH SIGNIFICANT INVESTMENT IN OVERSEAS AND PRODUCT LINE EXPANSION

  • ACQUIRED US FREEZE-DRIED BRAND CRUNCHIES FOOD IN 2014 AS PART OF THIS EXPANSION, INCREASING VISIBILITY AND EXPOSURE TO NORTH AMERICAN CUSTOMERS

  • 70% GROWTH IN SALES AND 80% GROWTH IN EBITDA FOLLOWING PRIVATE EQUITY INVESTMENT

  • MOVED INTO THE SNACK MARKET WITH ITS OWN BRAND ‘NOTHING BUT’

Achievements

WINNER - BVCA MANAGEMENT TEAM AWARDS 2016

  • SOCIAL RESPONSIBILITY TEAM OF THE YEAR – YORKSHIRE & NORTH EAST

  • MID-MARKET TEAM OF THE YEAR – YORKSHIRE & NORTH EAST



Location
Hull

Backers 
Endless: 2011 - 2016 
Caird Capital: 2015 - 2016