Novax acquires majority of Ulrick & Short
Novax has acquired a majority stake in UK ingredient supplier Ulrick & Short as part of its drive into the food sector.
Announcing the transaction, Novax – the investment arm of Swedish group Axel Johnson – said Ulrick & Short will continue to operate as a standalone business. The company’s founders Adrian Short and Andrew Ulrick will remain minority shareholders and the existing management team will remain in place under the leadership of Short as CEO.
“From the first meeting with the Novax team it was clear we had found an organisation and group of people that shared our values and beliefs of how a business should be nurtured and developed,” Short commented.