short-right-arrow logoMobile media-pie 1 7 % share download email linkedin round-download

Privacy Preference Centre

Your Privacy

When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. We use two types of cookies on our website: cookies which are necessary for this website to function and analytics cookies. Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.

Cookies used

  • CookieNotice
  • CookieAnalytics


Analytics Cookies

These are Google Analytics cookies which allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site and social media platforms All information these cookies collect is aggregated and therefore anonymous. This cookie is defaulted to ‘Active’, which means we will be able to track, on any anonymous basis, how many visitors we have to our site, and monitor its performance. If you wish to turn them off you can do so by unticking ‘Active’ and clicking ‘Save and Accept Cookies’. For more information on how these cookies work, including a link through to the Google Privacy Policy which sets out further information about data which Google may collect in the course of providing us with Analytics.

Cookies used

  • _ga

Targeting Cookies

We use necessary cookies to make our site work. We also use analytics cookies which collect information about how visitors use our website and help us to improve it; these are defaulted to ‘Active’, if you wish to turn them off you can do so through the Cookie Settings. Please be aware that by blocking some types of cookies it may impact your experience of the site and the services we are able to offer. For more information about any of these cookies and our use of them, or to change your settings at any time, please see Cookie Settings and our Cookies Policy.

Bridgepoint in the News

11 June 2012

Bridgepoint sells Symington's

Symington’s Ltd, the convenience food manufacturer and Intermediate Capital Group plc (ICG), the FTSE 250 alternative investment firm and Asset Manager, have announced a new private equity partnership to support a management buy-out of the food manufacturer.

The move follows after a five year investment period with current private equity partner Bridgepoint. ICG are investing junior debt and equity, and will hold a minority stake of 49.9% in the food company, with the existing management team taking 50.1%.

The partnership with ICG will also see Symington's replace their funding package from Yorkshire Bank with banking support from a new group of banks comprising RBS, Lloyds and HSBC.

Leeds-based Symington's is one of the UK's long established food companies, dating back to 1827, and today produces a wide range of convenience products under its own brands, under licence and for private label customers. In recent years, the company has enjoyed strong growth year on year, and is a leading player in the food categories within which it competes, with a portfolio of brands including Ragu, Chicken Tonight, Campbell's, Ainsley Harriott, and Aunt Bessie's.

David Salkeld, CEO of Symington's said:

"These are tough but exciting times for the grocery market, and we want be sure that Symington's continues to play a leading role through category and product innovation and continued investment in its product and retailer brand plans. We are delighted to partner with ICG, who took a different approach and have provided us with a unique financing structure which will give us a strong platform for future growth and expansion. I would like to thank Bridgepoint and Yorkshire Bank, who have been excellent partners for us over the last five years. Working with my highly experienced management team, and our new partners ICG, I look forward to building on our strong track record of growth and innovation and continuing our success long into the future."

Gareth Knight, Investment Director of ICG said:

"We are delighted to be partnering with the Symington's management team. The business has a culture grounded in entrepreneurial spirit and hard work, which has driven a strong growth trajectory in recent times. Symington's is highly regarded in the grocery market for good reason, and we are backing a very exciting business plan. This transaction is consistent with ICG's 23 year track record of providing debt and equity solutions in partnership with high calibre owner managers."

Mark Stroud, Director at Bridgepoint said:

"Symington's grew substantially during our period of investment, having made a number of strategic acquisitions and concluded an important partnership with Campbell's. It is now well placed to continue growing with a new investment partner."

For this transaction, the Symington's management team were advised by PWC Leeds and Walker Morris. ICG was advised by Spayne Lindsay and Berwin Leighton Paisner LLP. Bridgepoint and the management shareholders were advised by Rothschild Leeds and Travers Smith.

Close

Contact us

If you are interested in working for Bridgepoint, please complete the form below.

Close

Investor reports registration

To access investor reports through the web based reporting facility, please fill in the form to register for an account.

The information submitted on this form will be used for the sole purpose of registering you as an account user and will not be shared with third parties.

Close

Request a copy of The Point

Mandatory fields are marked as (required*)