The management team chose Intermediate Capital Group because of “a shared vision for the company, substantial financial firepower for further acquisitions and chemistry with the people,” chief executive David Salkeld has revealed.
He said: “We believe that this now creates a new platform from where the company can continue its growth path driven by new product, new brand and category development, sat on a low-cost platform here in south Leeds.”
The Yorkshire Post reported in April that Symington’s was looking to bring in new investors as it eyed up a number of brands owned by rival Premier Foods.
Earlier this year, the firm bought the Quosh brand from Britvic, resulting in the launch of a range of powdered drinks and marking its first foray into the drinks market. It has also developed bread crisps.