Wed, 05 May 2010 | MBO/MBI
Langholm Capital, the private equity owner of Tyrells Potato Chips and Dorset Cereals, has backed a management buy-out of Bart Spices for an undisclosed amount.
The firm financed the move led by Bart Spices' chief executive Matthew Shaw, son of Edward Shaw, the retiring chairman who was also one of the business' first employees.
Operating partner at Langholm, Steven Esom, has joined Bart Spices' board as non-executive chairman.
Founded in 1963 by Bristol entrepreneur Reg Bartlam and his wife, the herbs and spices producer is said to have started out by selling empty glass jars to local cookware retailers.
Today, Bart Spices is among the largest suppliers of herbs and spices in the UK, and claims to have been the first to supply Fairtrade spices, including vanilla pods, to British supermarkets.
The business is to continue to be run by Matthew Shaw, who began working at the spice producer in 2003 as sales and marketing director. He was appointed CEO in 2008.
Bart Spices recorded sales of £16 million for the year to March.
It has been reported that Langholm's intentions are to invest in Bart's production and manufacturing capabilities, to improve distribution and to build up the brand.
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