Atlantic manufactures and supplies food to casual dining, delivery and pub chains in the UK and currently has annual revenues of around £50m, double that in 2008 when it was bought out by Maven.
Following the acquisition of Atlantic, Los Angeles-based Flagship is expected to have annual revenues of £200m.
Maven’s managing partner Andrew Symmonds said, “The business has achieved strong year-on-year growth over the life of our investment, through a combination of winning new customers, the introduction of additional products and Atlantic’s ability to gain incremental product listings with existing customers.
“Atlantic is an example of a thriving UK SME with a strong management team, which has been able to achieve significant growth with private equity backing from Maven.
“The sale to Flagship provides the opportunity for Atlantic to pursue its strategy for international expansion and has delivered an attractive investment return for Maven’s investors.”
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