Corporate Finance

UK’s paneer leaders Everest sell to Vibrant

FRP leads on sale of Indian cheese maker to UK’s largest Asian food group

Background

Based in Leicester and founded in 1997, Everest Dairies is both a pioneer and premium brand within its market. The company is Europe’s leading branded manufacturer of the Indian cooking cheese paneer, delivering consistent organic growth throughout its history, and proving resilient during the 2020 pandemic with revenue growth as a result of exceptionally strong retail sales. Everest’s shareholders approached FRP to identify the ideal partner to take the company forward through the next stage of its growth.

Action

FRP’s Corporate Finance team was appointed to find the best home for the business. Using their knowledge of the food and beverage and private equity markets, the team identified early in discussions that Vibrant Foods, the UK’s largest Asian food group – backed on a buy-and-build consolidation of the ethnic foods market by Exponent Private Equity – could be the ideal buyer to provide Everest with the platform it needed to continue its growth journey.

Outcome

Our Corporate Finance team approached Exponent Private Equity with the opportunity to secure Everest Dairies in an off-market deal. Recognising the value of the deal to the Vibrant Foods business, negotiations led by FRP quickly progressed and the deal was delivered in under three months. The sellers were delighted with the outcome of the deal, with their business joining a group of like-minded companies and securing an exciting future of growth for the Everest brand.

3

3 months

The FRP team completed the off-market sale of Everest Dairies to Vibrant Foods in just three months.

Related team

Harry Walker

Harry Walker

  • Partner
  • Corporate Finance
  • Leicester

Fahim Kassam

Fahim Kassam

  • Senior Manager
  • Corporate Finance
  • Birmingham

Daniel Choucino

Daniel Choucino

  • Manager
  • Corporate Finance
  • Leicester