The acquisition by Geia Food, for an undisclosed sum, represents a big move for the Hertfordshire-based Lupa Foods, which is poised to elevate its market presence and unlock new growth opportunities under this new partnership.
Established in 1902 under the name Donatantonio, Lupa Foods started out as a Delicatessen shop in Clerkenwell, London, importing and selling ingredients from Italy. In 2018, the business acquired Compleat Food Network and rebranded to Lupa Foods. Since then, Lupa Foods has doubled its turnover to more than £40m.
Manish Mandavia, CEO of Lupa Foods said he is “incredibly proud” of the Lupa Food’s development and growth, with this new partnership marking a great opportunity to expand further.
“Our long history and trusted partnerships are the foundation of our success,” he continued. “Joining Geia Food presents a remarkable opportunity to scale our operations and enhance our value proposition by accessing their extensive sourcing and innovation capabilities through a global network. Together, we are committed to delivering even greater value to our customers and partners while meeting the evolving needs of the UK food industry.”
Claus Ravnsbo, group CEO of Geia Food, highlighted the strategic value of the acquisition: “We are thrilled to welcome Lupa Foods to the Geia Food Group. Lupa Foods has an impressive history and a strong reputation in the UK food industry. By combining our sourcing capabilities and supplier portfolio with Lupa’s local market expertise, we see vast opportunities to grow the business further and deliver even more value to customers.”
The Lupa Foods leadership team, led by Mandavia, will continue to oversee day-to-day operations, with the partnership intended to build upon Lupa Foods’ foundations whilst leveraging Geia Food’s expertise and expanded supplier network.
“We are incredibly excited about the opportunities this partnership brings,” added Mandavia. “This is a chance to scale our operations and enhance our value proposition while continuing to deliver the tailored, high-quality service our customers have come to expect. Together with Geia Food, we are ready to lead the way in providing innovative and sustainable food solutions for the UK market.”
The acquisition also marks a transition in ownership for Lupa Foods, as it moves hands from ProVen VCT (owned by Beringea), over to Triton Partners, a private equity firm financing the deal which acquired a majority stake in Geia Foods in 2021.
