Moore and Smalley advises on ethnic food deal
July 1, 2014
A Preston business that specialises in the supply of ethnic frozen food is set for further growth after securing investment from one of the UK’s major suppliers of halal food products.
Shazans Foods, which employs 150 staff at its Walton Summit manufacturing base, has announced an equity investment and strategic supply partnership with Scotland-based One Stop Halal Ltd.
Shazans will now enter into the chilled market with a new range of products to be sold by independents and major supermarkets.
Nadeem Ayyub, managing director of Shazans, said: “This gives us a great partnership with the major raw material player in the market and allows each business to play to its key strengths. These are very exciting times for Muslim consumers in the UK, with the development of great tasting, new and innovative halal food.”
The corporate finance team at Chiks advised the owners of Shazans Foods on the deal, while legal advice was provided by Napthens.
Ian Waddingham, corporate finance manager at Chiks, said: “Shazans Foods has always been an innovative business and this agreement secures significant new investment that will enable it to continue developing new products and entering new markets.”
Shazans Foods will continue to be led by Nadeem and, crucially, the Ayyub family will continue to lead the product development pipeline.
Shazans Foods began production 14 years ago with the humble samosa, but now makes a range of over 70 frozen products for leading independent retailers and major supermarkets. Throughout the years, it has been at the forefront of innovation in the halal food category, including Kheema Parathas, MicroCook Chicken Tikka and Toasties to name a few.
One Stop Halal Ltd was formed in December 2013 and supplies halal meat to a number of major retailers and food service sectors.