Established in 1992, Anglia Crown is an award-winning chilled and frozen prepared meal manufacturer. With a primary focus on the healthcare sector, the business is a trusted supplier to the NHS, working with around 100 hospitals across the UK.
The business underwent a management buyout in 2018, following years of underinvestment by its previous owners.
Having acquired a loss-making business, the shareholders sought external investment in order to realise their growth plans.
Our Role
- Acquired a majority equity stake in early 2020
- Provided an additional working capital and capex funding facility to support the business
- Worked closely with the management team to stabilise and grow the business
- Focused on operational output and efficiency improvements to optimise the cost base and improve gross margin delivery
- Negotiated an extension of the factory lease on more favourable terms
- Implemented margin improvement initiatives through tight control of labour costs and development of a comprehensive suite of KPIs to monitor and drive production processes
- Guided the business towards building customer relationships and targeting higher margin new markets, including the defence and export sector
Results
- Business returned to profitability in early 2021, despite the challenges on its core customer base caused by the COVID pandemic
- Remained profitable in subsequent years
- Sold to international foodservice operator Bon Culina in 2023, securing all jobs and ensuring the future of the business