UKSE exits Abbeydale Food Group investment after 11 years of collaboration and growth

The recent trade sale to Kepak Food Group marks the culmination of over a decade of collaboration, financial backing, and hands-on guidance from UKSE.

UKSE first invested in Abbeydale Food Group in January 2012, providing working capital to their Scunthorpe-based potato business. Recognizing the ambition and expertise of Abbeydale’s management team, UKSE soon followed with an equity round in 2013 to support the acquisition of a mushy pea company.

Over the years, UKSE provided six funding rounds totalling £1 million to enable early-stage growth, relocation, acquisitions which include Summit Foods, and working capital, proving instrumental in the company’s evolution.

Abbeydale went on to create entire chilled food ranges sold to supermarkets, airlines, restaurant chains, and food service providers – a notoriously competitive and demanding sector.

At the time of the first investment, the company's turnover was approximately £3 million; at its peak, it achieved £40 million in turnover. Employee numbers tell another impressive story, growing from 65 employees at the outset to 196 by the time of UKSE’s exit.

UKSE’s involvement extended far beyond financial backing, attending all board meetings, even through COVID, and maintaining a close relationship with the Abbeydale management team, serving as a sounding board for strategic decisions and challenges.

This collaborative and flexible approach proved particularly valuable during the company’s final chapter when Abbeydaledecided to sell the business. UKSE worked alongside the management team, offering guidance and straightforward advice to ensure a smooth transition.

With the completion of the sale to Kepak Food Group, UKSE is reflecting on another successful chapter in its history of supporting ambitious entrepreneurs and businesses across the UK.

Steve Lyon, Regional Manager at UKSE, said: “We knew from the start that we were working with a highly capable and motivated management team. Despite this being their first time running their own business, their top-level industry experience and drive were clear.

“We are delighted with the outcome of this investment, it highlights the vital role that supportive, flexible shareholders can play in helping businesses scale, innovate, and thrive."

Andrew Hayes, Managing Director at Abbydale Food Group, said: “UKSE invested in Abbeydale during our first 16 months of trading, providing crucial support as we navigated challenges and set our vision into motion.

“Since 2012, they’ve been instrumental through three acquisitions, four disposals, and our ultimate sale in 2024.

“They’ve been more than just a funding source focused on returns, they’ve been genuine partners who took the time to understand and back our long-term growth."

UKSE provides loan and equity finance of up to £1m to existing companies which are growing, particularly those creating jobs – for further information please contact the team on 0800 915 1188.