The company, based in Sleaford, Lincolnshire, was on the lookout to for a new location to expand its operations for some time, according to managing director James Arnold.
It decided to act after agricultural tillage and seeding equipment Great Plains Limited closed its operation on Woodbridge Road in the town’s industrial estate.
The multi-million pound purchase had to be completed quickly in order to limit the impact on production and the effect on the customer supply chain, Arnold said.
“We viewed the site and decided that it was a perfect location and would meet the requirements of the business.
‘Significant plans to grow and develop’
“Our current turnover is £55m and we have significant plans to grow and develop. The new site provides us with the ability to continue this expansion,” he explained.
Established in 1968 by William and Betty Arnold – the parents of James Arnold – SQF specialises in dried and dehydrated ingredients and offers more than 1,200 products for both food manufacturing and catering.
In 2010, SQF was acquired by Jain Group of India. Its parent company, Jain Irrigation Systems, produces dehydrated onion and is a leading processor of tropical fruit purees, concentrates and juice concentrates in India.
Corporate partner Martin Walsh from Sills & Betteridge Solicitors led a team providing legal advice on the SQF acquisition of the new premises.
Looking for some time
He said: “I was aware that SQF had been looking for an additional site for some time and knew how important this was to their future plans.
“James and I worked together to ensure this transaction was completed as smoothly and quickly as possible so as to avoid any interference in production during the key trading period.”
Other advisers in the transaction included Mark Ellis and James Flint from BDO, Katherine Bunting from Chattertons advising Great Plains and Gateley PLC, which advised Lloyds Bank.
Meanwhile, Israel-headquartered food ingredients firm Frutarom has secured a loan of £14.75M to support its acquisition of UK-based manufacturer Flavours & Essences.
Frutarom said the deal, which had been completed in August last year, supported its global growth strategy.
