04 May 2016

The Corporate Finance team from Burges Salmon has advised mid-market private equity firm LDC on its £8 million investment in healthy food chain Vital.

The management buyout involved a funding package of £12 million and will enable Vital Ingredient to continue growing its London presence and support expansion into new cities across the UK, and responds to increasing demand for healthy grab and go meals.

The Burges Salmon team acted for LDC on its investment, and for the buyout vehicle on the acquisition and banking aspects of the transaction.

Burges Salmon has significant expertise in the food and drink sector, giving specialist advice across the full spectrum of the food chain, including transactions involving Café Rouge, Loungers, Ministry of Cake and others.

Richard Spink, head of Corporate Finance at Burges Salmon, said: “It was a real pleasure to work with the LDC team and management on this transaction. The Vital business is well set to grow rapidly over the next three years and we wish the management well in delivering that exciting growth strategy.”

Established in 1981, LDC is a leading player in the private equity mid-market and is able to provide up to £100 million of funds for buyouts and development capital transactions in UK unquoted companies.

Simon Hemley, Investment Director at LDC, said: 'We really enjoyed working with Burges Salmon on Vital. Richard and his team were completely committed to supporting us throughout the process, bringing experience and a genuinely commercial approach to the transaction.'

Vital founder, Alex Heynes, opened its first store in London’s West End 15 years ago, and the business now operates 17 stores in the capital, which offer a range of fresh, healthy, natural and responsibly-sourced ingredients for consumers to create their own food-to-go meals. Employing over 200 people, Vital Ingredient has more than doubled turnover in the last three years to over £12 million thanks to increasing demand amongst time-pressed city workers for healthy grab-and-go meals.

Key contact

Richard Spink

Richard Spink Partner

  • Head of Corporate and Financial Institutions
  • Mergers and Acquisitions
  • Private Equity

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