Ethnic frozen food specialist Shazans, which is based near Preston, Lancashire, has revealed scant details about the amount of the cash injection or what it would be used for.
However, FoodManufacture.co.uk understands that the equity investment and strategic supply partnership has freed the business up to develop chilled products for independent retailers and major supermarkets.
“This gives us a great partnership with the major raw material player in the market and allows each business to play to its key strengths,” said Shazans md Nadeem Ayyub.
‘Innovative halal food’
“These are very exciting times for Muslim consumers in the UK, with the development of great tasting, new and innovative halal food.”
The corporate finance team at Preston-based Moore and Smalley advised the owners of Shazans Foods on the deal, while legal advice was provided by law firm Napthens.
Shazans Foods would continue to be led by Ayyub and, crucially, the Ayyub family would continue to steer product development for the firm, said Moore and Smalley.
More than 70 frozen products
Shazans Foods began producing samosas 14 years ago, but it now makes more than 70 frozen products, including Kheema Parathas, MicroCook Chicken Tikka and Toasties, for leading independent stores and top supermarkets.
Scotland-based One Stop Halal was formed in December 2013 and supplies chilled halal poultry meat to major retailers and foodservice customers. The company also runs a wholesale brand called Mitchell’s.
Ian Waddingham, corporate finance manager at Moore and Smalley, said: “Shazans Foods has always been an innovative business and this agreement secures significant new investment that will enable it to continue developing new products and entering new markets.”