FAIRFAX FINANCIAL ACQUIRES EQUITY INTEREST IN MEADOW

Meadow Foods Limited (‘Meadow’), one of the UK’s leading value-added ingredients businesses, announces today that Fairfax Financial Holdings Limited (‘Fairfax Financial’) has agreed to acquire a significant equity interest in Meadow.

Fairfax Financial, headquartered in Canada, is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management. Its investments are managed in accordance with a long-term value-oriented philosophy, and Fairfax Financial has a proven track record of delivering shareholder value and growth. Exponent and the founding Chantler family both retain shareholdings in Meadow.

Raj Tugnait, CEO at Meadow, said: “To have caught the eye of an investor like Fairfax Financial is an excellent outcome for Meadow as they are the perfect partner for our future growth.  We look forward to a long-term, sustainable partnership and continuing to deliver growth and opportunities for our customers, suppliers and colleagues.”

Meadow is a leading ingredients business, partnering with the world’s biggest food manufacturers to solve their most complex challenges. Experts in the dairy and confectionery industries, Meadow is the essential ingredient in many favourite food brands. The company now employs over 500 people across five BRC accredited sites in Chester, Peterborough, Holme-on-Spalding Moor, Dolgellau and Headcorn.