Pasture Farm Foods bought by Burnley’s Haffners in synergistic deal facilitated by Hilton Smythe

Pasture Farm Foods bought by Haffners

Pendle-based Pasture Farm Foods, a long-standing wholesaler and retailer, has been acquired by Haffners in a synergistic deal facilitated by Hilton Smythe. 

Operating across the wholesale and retail categories, Pasture Farm Foods had undergone significant growth since its inception in 2002, having built a strong B2B and D2C client base, as well as an e-commerce facility for local deliveries. 

Approached by the director David Chilvers in 2022, the team at Hilton Smythe began preparing information to support the sale of the business, including financial modelling and the production of an impactful IM (Information Memorandum) that would showcase the well-loved business in the best possible light. Our research team then produced a list of potential buyers, running a full research and marketing process.  

A synergistic fit for iconic brand Haffners Pies and Butchers in neighbouring Burnley

The company presented a compelling acquisition opportunity for Haffners Pies and Butchers, located in neighbouring Burnley, which had been seeking to bolster its offering with an online ordering facility and local deliveries. 

Ted Cockett, managing director of Haffners, said: “We recognised the synergies between our two businesses immediately and opened discussions with director David Chilvers.

“We are asked every single day if we do pie deliveries, both locally and nationally, but until now we have not had the capacity at our bakery and we did not have an online ordering function, nor the logistical capability to make deliveries consistently.

“All of these challenges have been dealt with through the acquisition, which will come as good news to our loyal Haffners customers, who will soon be able to get next day or workplace deliveries throughout Burnley and Pendle for all meat and pies.

“It is good news for too for existing Pasture Farm Foods customers, as we will now be introducing our full range of pies into our Colne shop. We also have plans to add breakfast butties and breakfast pies to our offering there, and to serve coffee throughout the whole day.” 

The deal completed in August 2023, securing the vendor’s full asking price. Pasture Farm Foods joins the brothers’ Dean and Ted Cocketts’ growing portfolio of local food businesses, which includes Colne-based Whitesides Bakery, as well as Haffners.

A sale overseen by Hilton Smythe Deal Executive Katie Holt

Deal Executive Katie Holt oversaw the entire sale process, handling enquiries, controlling information access with NDAs, creating competitive tension where appropriate, and negotiating letters of intent and favourable deal terms. She also oversaw the entire due diligence process and data rooms, advising on contractual negotiations and managing the legal process through to closing.

David Chilvers said: “I am delighted that Ted and Dean are the new owners of the business and have no doubt they will look after our customers as we have done over the past 21 years. I wish them well for the future and look forward to seeing the business grow and prosper.”

Our aim is to maximise shareholder value by managing the entire transaction lifecycle – from exit planning and sell-side due diligence through to marketing, buyer research, deal structuring and negotiation.

If you’re thinking about exiting your retail or wholesale venture, contact Hilton Smythe today for a free consultation and discover how we can help you achieve your goals.