Thomson Snell & Passmore advises Sysco on its acquisition of Scottish specialist meat supplier Campbell’s Prime Meats
Deal type: Aquition
Industry Sector: Agricultural
Completion date: 29 October 2024
Adviser(s): Thomson Snell & Passmore
Thomson Snell & Passmore advises Sysco on its acquisition of Scottish specialist meat supplier Campbell’s Prime Meats
Sysco GB, the market leading foodservice provider, has acquired Campbell’s Prime Meats, a specialist meat and fish supplier in Scotland. Law firm Thomson Snell & Passmore advised long-term client Sysco on the deal.
Sysco GB is the leading foodservice provider in the UK and has been part of the Sysco Corporation, the global foodservice distribution company, since 2016. Serving more than 20,000 customers, Sysco employs over 8,500 people across the UK and sources over 18,000 products worldwide.
Campbell’s Prime Meat has built an enviable reputation over the past 100 years, providing top quality meat, fish and deli products to food businesses and consumers primarily in Scotland and across the UK. It will continue to operate as a separate business but will now have the support and strength of Sysco which will bring opportunities for a broader range of products and access to new customers within the Sysco ecosystem.
Campbell’s Prime Meat was established more than 100 years ago by Thomas Campbell, who took up his craft as a butcher in 1910. More than a century later, the passion for quality Scottish produce and the dedication to quality, freshness and craftmanship remains at the heart of the Campbell’s Prime Meat story.
Commenting on the acquisition, Paul Nieduszynski, CEO of Sysco GB, said: “We are delighted that Campbell’s Prime Meat will be joining Sysco GB. It is a great business with a fantastic reputation for producing high quality meat, fish and deli items, combined with exceptional levels of service and championing independent customers in Scotland. We believe that it is a brilliant fit for Sysco and will bring a huge benefit for our customers strengthening our Scottish proposition.
“We’re very keen to work with high quality businesses like Campbell’s Prime Meat, which can add value to Sysco and enhance our customer proposition. We look forward to welcoming Campbell’s Prime Meat colleagues to the Sysco family.”
Jason Varney, M&A Partner at Thomson Snell & Passmore led the legal team on the purchase for Sysco. He was supported by Joseph Hartland (Senior Associate), Jack Pavey (Solicitor) and Harry Roffey (Solicitor) in the Corporate team. Due to the nature of the transaction, the deal necessitated a multidisciplinary project team, which included Ben Stepney (Partner, Employment), Sebastian Jones (Partner, Commercial), Freya Vale (Solicitor, Commercial), Nitzan Cohen (Consultant, Tax), and Mathew Boyle (Consultant, Pensions).
Jason Varney at Thomson Snell & Passmore adds: “This has been a great transaction to assist with; helping Sysco to broaden its Scottish range and service capability and solidify its position as an industry leader. This deal will bring together the expertise, resources, and talent of both organisations to deliver even greater value. As a firm, Thomson Snell & Passmore has worked with Sysco companies for nearly 30 years, so it is particularly rewarding to be involved in the next phase of Sysco’s growth.”