Investor delight as West Cornwall Pasty Co is sold to Samworth Brothers

The business has been disposed of by Enact, part of Leeds-based Private Equity house Endless, who bought the company out of adminstration in 2014.

The business operates across a wide range of travel and high street locations and has flagship trading partners such as Moto and the RFU. Simon Pilling and James Cook of Leeds-based Bond Dickinson provided legal advice on the deal.

West Cornwall Pasty Co was the first investment made by the Enact Fund and since that time the management team, led by executive chairman Chris Peck, have taken the business from strength to strength - quadrupling profitability, extending the product offering and undertaking a major overhaul of the brand.

This exit marks the first realisation by the Enact Fund and delivers a return of 5.5 times the initial stake placed by investors.

Chris Cormack, investment director at Enact, said: “Having been involved since our initial investment in West Cornwall Pasty Co we are delighted to have seen the transformation and growth of the business that has seen us exit to Samworth Brothers.

“We are incredibly proud of the work that has been done, initially to ensure the stability of the Company in 2014, and since then to create a thriving business, capable of great things in the future.”

Mr Peck said: ”The future looks really exciting for the brand and it is with considerable satisfaction that we have been able to team up with Samworth Brothers who we viewed as the ideal suitor and custodian of the business for the future”.

Established in January 2014 Enact provides transformational investment of up to £5 million for small to medium-sized businesses.