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Home > Latest News > TSC Foods in £24m buyout

TSC Foods in £24m buyout

TSC Foods, the makers of the Glorious soup range, has been bought by Key Capital Partners. The purchase by this private equity firms is reportedly worth £24 million. Glorious soups are endorsed by Marco Pierre White.

Key Capital with take over TSC Foods in conjunction with Jonathan Skofic who was previously an executive at Cott Beverages, a soft drink firm. Mr Skofic is likely to become the managing director of the new group. Currently TSC, which produces soups, dips and sauces, has an annual turnover of around £35 million. Their products are stocked in supermarkets such as Waitrose and Morrisons and are also sold to restaurants.

Bill Morran and Brian Dahl were co-owners of TSC. They are now set to receive huge windfalls resulting from the sale. Morran and Dahl were responsible for a management buyout of TSC Foods back in 2006. Dahl has been responsible for the day to day running of the firm.

Celebrity chef Marco Pierre White backed Glorious produce which was previously owned by Conival until the pasta sauces and soups were bought by TSC in 2008.

Key Capital Partners have a history of small to mid-market takeovers. They recently bought Sabotage fashion house for £2.25 million and Templine Recruitment for £4.3 million. They have offices in Birmingham, Leeds and Cambridge.

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