Foresight Group has announced an investment into Quality Food Products (QFP), an Aberdeen-based processor of meat products. Founded in 1969, the family business currently employs a team of 60 and serves retail and wholesale customers across the UK.
The transaction has enabled the family shareholders to exit, while a new management team led by Brian McMonagle – who has held executive roles at various large food processing companies, including as managing director at Finnebrogue Artisan – will aim to drive increased scale and add new jobs.
McMonagle, who is joining as executive chair, will work with Graeme Murray, who recently joined as managing director. Mark Steven, former managing director of Highland Spring, is also joining the board as a non-executive director.
PMSI provided CDD to support the transaction, addressing key investment themes including: a detailed market analysis; an assessment of QFP’s key customer channels and trends in customer behaviour; an evaluation of the potential impact of meat substitutes on bacon demand; as well as an analysis of QFP’s competitive positioning.
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