Source: Real Deals
Langholm Sells Dorset Cereals
Langholm Capital has sold Dorset Cereals to Wellness Foods in a deal valued at around £50m (€64m).
Langholm led the management buy-in of the muesli manufacturer in April 2005. The firm has quadrupled its money on the deal.
"This was already a perfectly healthy and tasty breakfast cereal before we bought it, but the problem was that no one knew about it," said Langholm co-founder Bert Wiegman. "We have done all this without spending any money on advertising."
Langholm rebranded the product and built a new packaging plant. Sales are understood to have increased from around £4m three years ago to £30m in 2007. The head count has doubled to more than 100.
Wellness Foods is backed by Irish racing tycoons JP McManus and John Magnier.