CVC Credit is pleased to announce that it has agreed to provide senior debt facilities to support Peak Rock Capital’s acquisition of Dalziel, a leading UK distributor and manufacturer of flavours, seasonings and other food ingredients.
Founded in 1926 and headquartered in Bellshill, Scotland, Dalziel is a leading B2B distributor of in-house formulated and third-party food ingredients, primarily serving the fresh and processed meat markets. The company supplies more than 1,000 industrial processors and 5,000 retail butchers through a well-invested nationwide network of four production facilities and 16 distribution depots. Dalziel’s differentiated offering combines bespoke blending and new product development capabilities with broad stockholding, flexible order sizes and same or next-day delivery.
Moris Nachmias, Managing Director in CVC’s Private Credit team, said: “Dalziel is a stable, high-quality business with a leading position in an attractive niche market and a differentiated proposition for both customers and suppliers. Its strong market position is underpinned by a scaled production and distribution network, long-standing customer relationships and a track record of consistent growth and strong cash generation. We are pleased to support Peak Rock Capital’s acquisition of the business and its plans for Dalziel’s continued growth.”
Andrew Davies, Head of CVC Credit, added: Dalziel is a market leading enterprise that operates in a resilient market with positive underlying market trends. This is the type of established, cash-generative business we look to support through our European Direct Lending strategy. Our experience across CVC, including previous investments through our Liquid and Private Credit strategies as well as our Private Equity strategies within the food ingredients sector helped support our diligence and strengthened our investment conviction.”
This investment has been made through CVC Credit’s European Direct Lending strategy, which focuses on lending to established European medium and large companies backed by top Private Equity sponsors, with a focus on the senior secured piece of the capital structure.