Press release
Fenmarc Produce based in Elm, Cambridgeshire completed the purchase of Alfred G. Pearce Ltd of Setchey, Norfolk for an undisclosed sum.
Fenmarc owners, Mark and Rachel Harrod, said of the acquisition: “Alfred G. Pearce have been a trusted and valued supplier to Fenmarc for over 20 years. It is a local, family business we know well and joining together seemed a natural step working towards a more resilient supply chain, bringing together agricultural and operational experience. This will allow us to pool the knowledge and expertise of both businesses to deliver even better quality and service to all of our customers. The Pearce family and the broader leadership team at AGP will all continue to play a full and active role within the new integrated business and we look forward to working alongside them over the coming months and years.”
Fenmarc CEO, Jim Waller added: “This acquisition opens up opportunities for both businesses in each other’s market sectors. We have complementary customers who will benefit from the new broader group with improvements in quality, service and innovation to better meet the consumer need to eat more healthy food. We’re looking forward to working with our new colleagues and forging closer relationships with our growers to continue to develop and enhance our sourcing strategy.”
Simon and Jonathan Pearce, owners of Alfred G. Pearce Ltd said: “This is a natural joining of two family-owned businesses, providing Fenmarc with a route back to the soil and opportunities in both the B2B sector and the retail prepared space, with an integrated model for prepared vegetables from field to consumers plates. We feel both companies share similar values in the way they do business and the value we place on our colleagues. It also provides Alfred G Pearce Ltd with opportunities to accelerate its existing expansion strategy through close relationships with our customers, robust direct supply chains and investing in automation.”
Both Fenmarc and Alfred G. Pearce Ltd would like to thank their external partners who have worked tirelessly to bring this transaction to completion: Price Bailey, Mills & Reeves, MHA MacIntyre Hudson, Buckles Solicitors, Greenwoods and TG Advisory. Finally we would like to thank our mutual banking partner HSBC for their support.
About Fenmarc: Fenmarc Produce Ltd is the longest operating food manufacturer and one of the top 50 fastest growing businesses in Cambridgeshire (source: Grant Thornton). Fenmarc is privately owned, has a turnover of over £60m and employs around 300 people. Over the past 10 years Fenmarc has invested in excess of £15m in its manufacturing operation to improve productivity and broaden capabilities, so that today it is one of the most efficient and modern fresh food manufacturing facilities in the UK. Fenmarc currently supply 7 major customers with retailer own label products, and in May 2024 they launched the Veg Table brand of veg-based meals in over 500 Tesco stores nationwide. In August this year they became a certified B Corporation and by doing so are now counted among businesses that are leading a global movement for an inclusive, equitable and regenerative economy.
About Alfred G. Pearce Ltd: AGP have been in business for over 65 years supplying raw wholehead and prepared vegetables to the food manufacturing and food service sectors with operations on 3 sites in Nofolk at Setchey, Wormegay and Tilney
The Fenmarc family shareholders also own a 1,000 hectare farm (REEF) in Pembrokeshire, and are majority shareholders in Agellus Hotels, led by Chef Patron and Director Lee Bye. The Agellus team supports Fenmarc with the development of new products and concepts from their firsthand experience with restaurant customers. The acquisition of Alfred G. Pearce is a key element alongside the REEF business in the plan to build closer relationships with growers and agriculture. The family are also shareholders in Puffin Produce Ltd and Pembrokeshire Creamery Ltd based in West Wales.