SK Foods snapped up as part of double deal
MAJOR North East employer SK Foods has been snapped up by The Compleat Food Group as part of a double deal.
Middlesbrough-based party food specialist SK Foods and Ebbw Valebased business Zorba Foods have both been sold by The Entrepreneurial Food Group to their new owners for an undisclosed amount.
SK Foods, which turned over £115m in most recent accounts for 2022, specialises in Oriental, Tex Mex, Mediterranean, and traditional British snacks, made by a team of more than 770 employees at its bases in Riverside Park, South Bank and its Wynyard offices and kitchens.
Formed in 1987 it holds around 40% of the market share for private label party foods outside of the Christmas period and became part of The Entrepreneurial Food Group in 1999.
The firm has been acquired alongside Zorba Foods which specialises in Greek, traditional, Tex Mex and Asian-inspired dips and sauces, as well as soups, for retail and foodservice.
New owners The Compleat Group said the two firms mark its latest strategic acquisitions as its strives to become the UK’s number one chilled prepared food company, gaining access to a range of new categories while also expanding production capabilities.
Nick Field, CEO, said: “We’re incredibly excited about these two significant additions and what they bring to the group, with both companies having strong heritage in their categories for creating great food that people love. “We plan to continue investment in both companies to extend their respective capabilities, allowing us to further innovate and inspire within their categories.
“For The Compleat Food Group, these acquisitions accelerate our commitment to build on our breadth of capability, increase our category leadership position, and deliver more excitement and interest to delight our consumers, driving sustained growth in the sector.”
Jeremy Faulkner, CEO of both SK Foods and Zorba, said: “At the heart of both SK Foods and Zorba is a commitment to real food values. It’s what our reputations have been founded on and why we are able to say that we are category leaders.
“With The Compleat Food Group, we have found a natural partner who not only shares our values, but also the ambition to invest and support us in driving further innovation and growth for our categories and key partners.”