M&A advisors support LDC’s growth investment in Bespoke Kitchen Foods
Vegetarian and vegan food company Bespoke Kitchen Foods has secured a new investment from LDC. The growth capital deal was supported by experts from Food Strategy Associates, Cooper Parry, Moore Kingston Smith, Future of Foodservice, Coppett Hill, Cortus Advisory, and Brown Jacobsons.
Based in Coalville, Leicestershire, Bespoke Kitchen Foods supplies premium products for the pub and casual dining market, as well as to food wholesalers supplying the foodservice channels. Amid rising demand for vegetarian and vegan food, its products are developed specifically to deliver on that front, while also meeting customer requirements.
The company has averaged 18% revenue growth over the past three years, supported by rising demand for vegetarian and vegan categories and a broader shift toward healthier dining. Earlier this year, Bespoke opened a new production facility near its headquarters to expand manufacturing capacity.
But while the business is performing well, and demand for plant-based products might be on the rise, scaling such an operation is notoriously difficult. Without adequate support, many other start-ups based on vegetarian and vegan cuisine have ultimately collapsed.
Helping Bespoke Kitchen Foods to expand, LDC, the private equity arm of Lloyds Banking Group, has invested in the company. Supporting its growth plans, LDC has backed Bespoke’s existing management team, including its CEO Sam Tidball, to fund both its organic and acquisitive growth strategy, which is underpinned by new segments, including high street casual dining chains.
Tidball commented, “Partnering with LDC, an investor with deep sector experience based right on our doorstep, will help us to seize opportunities for growth in new categories and markets, all while continuing to provide exceptional culinary experiences for our customers right across the UK.”
According to a joint statement, LDC will back Bespoke’s strategy to expand both organically and through acquisitions, with a focus on entering new segments such as high-street casual dining. Bespoke supplies its plant-based and vegetarian products to UK pubs, restaurants, and wholesalers serving the foodservice industry. Its product portfolio spans savoury items like plant-based burgers and pastries, alongside desserts, compotes, and gluten-free products.
The buy-side dealmakers
Over the past decade, LDC has invested £403 million across 21 consumer businesses with a combined enterprise value of £900 million. The deal was led by LDC’s East Midlands and East of England team, including investment director Simon Peacock and partner David Bains, supported by investment executive Josh McHugh. Both Peacock and Bains will join Bespoke’s board as non-executive directors alongside Chris Copestake as executive chairman.
At the same time, LDC was advised by Food Strategy Associates on commercial and operational diligence.
Richard Wyborn, partner at Food Strategy Associates, said, “Congratulations to all parties on a successful outcome. It was a real pleasure to support LDC on this transaction. All the best to the team at Bespoke Kitchen Foods.”
Other advisors that supported LDC were Future of Foodservice and Coppett Hill, which provided due diligence, and Cooper Pary, which supplied corporate finance. Cortus Advisory added financial diligence, Brown Jacobsons helped with legal, while Moore Kingston Smith offered up finance and tax advice.
