Mills & Reeve advises Canadian agri-food company on acquisition of Norfolk firm

We have advised Richardson Malting (UK) on its acquisition of Norfolk malting company, Anglia Maltings.

Richardson Malting (UK), which is a subsidiary of Canadian group, Richardson International, has acquired the entire share capital of Anglia Maltings’ parent company, Ragleth Limited, in a strategic move to gain a foothold in the malting industry. Anglia Maltings 360 employees will transfer to Richardson's wider group of companies across Canada, the US and Europe.

Anglia Maltings has a diverse portfolio of businesses including Crisp Malt, Micronized Food Products (MFP), and EDME Food Ingredients. The company operates seven malt facilities in the UK, Poland, and Germany. Crisp Malt collaborates with local farmers to source the highest-quality malted barley, serving breweries and distilleries and the food industry worldwide MFP specialises in the production of cereals and pulses for brewing and animal feed while EDME Food Ingredients focuses on malted and unmalted products catering to the baking industry.

Richardson International processes and refines Canadian grown oil seeds into quality oils and manufacturers oil-based ingredients for the retail, food service, and industrial sectors. The company is also actively involved in processing oats and durum into a variety of value-added food products.

Richardson International chief executive officer, Curt Vossen, said: “We share common values with Anglia Maltings and are aligned in our commitment to operational excellence and exceptional customer service. As experienced handlers of malting barley in North America, this is an exciting next step in our long-term strategy, which includes the diversification of our business and continued growth in the food processing industry.”

Anglia Maltings chief executive officer, Stuart Sands, said: “Richardson International is a world leader in agriculture and food processing. Its 19th century roots have many similarities with ours, with business built on strong relationships with growers; production of excellent ingredients; and great customer service. It is fantastic that this highly regarded, successful family company is keen to support and invest in our three businesses: the backing will take us onto a new level.

“As champions of innovation Richardson International will help us deliver our ambitions for new ingredients, and open new doors for our business. The acquisition will also support us in our quest to keep offering best in class customer service to brewers, distillers, bakers, and food manufacturers.”

Anthony McGurk, corporate partner who led the team that advised Richardson International, said: “As a market leader Anglia Maltings has provided the perfect opportunity for Richardson International to enter the malting industry. The two companies have great synergies and their global reputations for excellence will create a powerful force in the sector, enabling both to achieve their ambitious growth plans.”

The Mills & Reeve team included Vanessa Walton, Kim Lindsay-Smith, David Hollier and Ashley Kerr

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