TEL: LONDON +44 (0)20 7920 4800 / MANCHESTER +44 (0)161 641 1000


Second investment in a week for Primary

June, 1998


Primary Capital has completed the management buy-out of British Pepper & Spice (BP&S) from Burns, Philp and Company Limited, the Australian-based food ingredients group. BP&S is one of the largest manufacturers of dried herbs and spices in the UK for the retail and food ingredients markets. It produces own-label and proprietary branded products for almost all the major multiples and leading independents within the retail and food service sectors.  It is also a key supplier of bulk herbs, spices and related products to many of the UK's leading food manufacturers.


The five-strong management team at BP&S is led by its Chief Executive, Ian James.  BP&S employs 110 people at its factory and warehouse in Northampton.  In 1997, the company achieved sales of over £12 million.


Total funding for the deal, which includes the purchase price, working capital and capital expenditure facilities, is £7.6 million.


This is the second deal in a week completed by the Primary team, who also backed the MBI of Pegasus Security earlier in the week.



Contact Jackie Adams for more information

Tel: +44(0) 20 7920 4800


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