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, confectionery and plant-based 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.

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