The owner of Aunt Bessie’s Yorkshire puddings has bought organic fruit and vegetable delivery firm Abel & Cole.
William Jackson Food Group snapped up Abel & Cole for an undisclosed sum, although a £30 million price tag was mooted earlier this year.
It adds the business to existing brands such as Aunt Bessie’s, Jackson’s Bakery and fresh vegetable supplier Parripak.
Online organic food firm Abel & Cole was founded in 1988 by Keith Abel, who started the business selling potatoes door to door. It has since grown into a nationwide service delivering fresh organic foods, including handmade frozen meals, to around 50,000 customers. Hull-based William Jackson said it is “business as usual” for Abel & Cole and its 450 staff following the deal, with its management team remaining in place, led by chairman Abel.
Abel sold the business to private equity firm Phoenix Equity Partners in October 2007, which is understood to have netted him a fortune. But a debt-for-equity swap in 2010 saw it become majority-owned by Lloyds Banking Group and Abel.
For William Jackson – founded around 160 years ago by the chairman’s great-great-grandfather – Abel & Cole will mark its return to retailing, having previously owned a 114-strong chain of convenience stores that was sold to Sainsbury’s in 2004.