By Edward Devlin2021-03-15T11:51:00+00:00
Ulrick & Short will continue to operate as a standalone business following the Novax deal
Clean label ingredient specialist Ulrick & Short has been acquired by Swedish investment firm Novax for an undisclosed sum.
Based in Yorkshire, Ulrick & Short supplies food manufacturers with a wide range of clean label and plant-based ingredients.
It will continue to operate as a standalone business following the Novax deal, with founders Adrian Short and Andrew Ulrick staying on as minority shareholders and the existing management team remaining in place.
Short said: “With Novax behind the company and team, we will continue to grow and have the best chance of seeing Ulrick & Short reach its full potential.”
Axel Johnson’s investment company acquires leading UK specialist of clean label ingredients
Ulrick & Short has been acquired by Novax. Pic: Ulrick & Short Novax – part of the Swedish family giant that acquires and develops companies in strategic niche markets – has acquired a majority stake in British ingredients specialist Ulrick & Short.
Novax is the investment company of the Stockholm-based, €8bn Axel Johnson Group. The transaction marks Novax’s continued commitment to engage in a more sustainable Future of Food by investing in the European specialty food ingredients market.
Ulrick & Short specialises in plant-based natural ingredients and is well positioned to meet the long-term demands by consumers who are moving towards healthier and more sustainable alternatives.