Mediterranean food importer Lupa Foods has been sold to private-equity backed Nordic food group, Geia Food, for an undisclosed sum.
Lupa Foods specialises in supplying Italian products such as pasta, tomatoes and olive oil to food manufacturers, recipe box companies, and wholesale and retail players across the UK food industry.
Its turnover hit £42.4m in its latest accounts for the year to 31 January 2024, with a pre-tax profit of £1.4m. It was previously owned by ProVen VCT, a venture capital fund owned by Beringea.
Geia Food has an annual turnover of £370m and is owned by private equity firm Triton Partners.
“We are incredibly excited about the opportunities this partnership brings,” said Manish Mandavia, CEO of Lupa Foods. “This is a chance to scale our operations and enhance our value proposition while continuing to deliver the tailored, high-quality service our customers have come to expect.”
Lupa Foods’ leadership team will stay in place, led by Mandavia, to oversee the day-to-day operations and ensure a seamless transition.
The partnership is designed to build on Lupa Foods’ strong foundations, blending its local market and product knowledge with Geia Food’s innovation expertise and expanded supplier network.
“We are thrilled to welcome Lupa Foods to the Geia Food Group,” added Claus Ravnsbo, group CEO of Geia Food.
“By combining our sourcing capabilities and supplier portfolio with Lupa’s local market expertise, we see vast opportunities to grow the business further and deliver even more value to customers.”
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