Terry Foods acquires European Food Ingredients

The North Staffordshire-based food ingredients trading company announced it had acquired EFI for an undisclosed sum. Gardiner told Food Manufacture ​that EFI, who have been long standing partners with Terry Foods, had approached him to acquire the business late last year. “Before Christmas, the MD decided that she wanted to […]

The North Staffordshire-based food ingredients trading company announced it had acquired EFI for an undisclosed sum.

Gardiner told Food Manufacture ​that EFI, who have been long standing partners with Terry Foods, had approached him to acquire the business late last year.

“Before Christmas, the MD decided that she wanted to retire and called me and asked me if we wanted to acquire the business from them,” ​he explained. “It came completely out of the blue, but we knew her business and it fits very well into what we do. That was really the rationale behind it all.”

Acquisitions

Part of Terry Foods’ strategy has been to grow by acquiring similar longstanding businesses whose owners are looking to retire. That way, Gardiner and his team can continue their legacy and bring in years of experience under the Terry Foods belt.  

“Obviously it helps us to expand our business to companies that we work with and helps us to look to different ingredients we aren’t supplying at the moment,”​ he added.

The acquisition of EFI followed a tough year for Terry Foods, due to the COVID-19 pandemic. The business faced one of its worst months on record in May 2020 and Gardiner was faced with a tough decision on how to steer into 2021.

“We had to make some major decisions on what we were going to do – whether we were going to just cut staff or if we were going to go for growth,”​ he said. “It was a real risk going for growth, but that’s what I decided to do and we have gone from strength to strength in a short space of time.

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