UK turkey producer secures new investors
UK turkey producer, Bernard Matthews, has successfully completed an investment from Rutland Partners to support the growth and development of the business.
Bernard Matthews, despite being the market leading producer of turkey in the UK operating across 50 farms and four processing facilities, it has faced some trading challenges in recent years, posting significant losses in 2010-11.
The business breeds, raises and processes about 7 million birds a year and supplies the market with 1.5 million fresh turkeys over Christmas.
“It has been well documented that we have been looking into a range of funding options to help develop the business, but we wanted a partner who understood the company and were committed to helping us grow. Rutland Partners fit this model perfectly, as from the outset they have seen real potential in the business,” said Executive Chairman David Joll.
The deal brings the experience of Rutland Partners to the Board and the senior management team, and provides a strong capital injection, rumoured to be around £20m, to enable Bernard Matthews to fund its growth plans and fulfil its business potential.
Rutland Partners is a leading UK based turnaround and restructuring investor which invests in UK companies to create stability, strategic change and improved performance.
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