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NVM Private Equity has acquired UK-based vegetarian food supplier Vegetarian Express.
In a statement, the UK private-equity firm said it had made a £15m ($19m) investment into the business, without providing further details on the deal.
Since 2016, Vegetarian Express, which supplies plant-based foods such as tofu and tahini to foodservice customers, has been backed by Bridges Fund Management, which announced the sale in a separate statement.
NVM Private Equity said it would look to support Vegetarian Express’ expansion into Ireland, as well as invest in expanding the company’s customer base.
Dave Webster, the managing director of the Watford-based Vegetarian Express, described the company as “the UK’s leading plant-based category specialist to the foodservice sector”.
He added: “NVM’s backing will enable us to scale faster and help even more customers get brilliant-plant-based food on their menus.”
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The company has “more than doubled” its revenues under Bridges’ ownership, NVM Private Equity said. Detailed figures were not disclosed.
Mauro Biagioni, investment partner of NVM Private Equity, said: “The business is a true category specialist, with an excellent reputation for its extensive range of high-quality authentic products.”
