Liberty Corporate Finance is pleased to announce the completion of the management buyout of the luxury food brand, “rhubarb”, by ECI Partners LLP, the UK growth focused mid-market private equity firm, who invested £12 million for a substantial minority stake in the business and additional development capital.
"rhubarb" is a market leader in high quality catering for events, travel and iconic venues where premium caterers are taking market share. Sales have grown to £32 million since the company was founded in 1996, with revenues quadrupling over the last seven years. Today, "rhubarb" works with many of Britain’s most iconic venues and events including the Royal Albert Hall, Saatchi Gallery, London Eye, Henley Regatta and Royal Ascot. It also provides premium catering for BAA and some of the world’s leading airlines: including American Airlines First and Business Class lounges at Heathrow Airport, and meals for Virgin Atlantic Upper Class.
Liberty were appointed by ECI Partners to provide buyside support on the transaction.
"rhubarb" MD Pieter-Bas Jacobse, said: “Over the years we have grown “rhubarb” into one of Britain’s most innovative, and luxury food brands, thanks to the hard work of our staff, and the support of our clients." “Now it is time to build on that success and we welcome ECI’s support and contribution to make our vision for the future a reality.” Chris Warren, Director of ECI Partners, added: “rhubarb” delivers a fantastic service and demand is growing for premium caterers. “rhubarb” has an outstanding management team in place and we look forward to working with them to support their future growth and expansion as a high-end food brand. Looking ahead, ECI will provide additional development capital to allow “rhubarb” to take full advantage of the many business development opportunities that will arise in the future.”