Mr Fothergill’s Seeds (MFS) has undergone a £100m+ buyout with the backing of Harwood Private Capital.
The deal will see managing director David Carey continuing to lead the business along with its management team, supported by new non-executive chair Matt Atkinson. The transaction has enabled the exit of MFS founding shareholders, including its joint managing director John Fothergill, and provides an incentivised growth platform for the senior management team, supported by new growth capital from Harwood Private Capital and OakNorth Bank.
Founded in 1978, Mr Fothergill’s has grown into a £50m turnover business with international offices in Australia and New Zealand, employing more than 250 people. The business supplies horticultural products via its direct to consumer channels and more than 3000 retailers and partners including large national chains and garden centres worldwide with a focus on hobby seeds and related products. The addition of Matt Atkinson brings significant direct to consumer experience to the board.
David Carey, managing director at Mr Fothergill’s Seeds said: “The business my father Brian founded with Jeff Fothergill 40 years ago that I, Aaron Whitehouse and John Fothergill have led for the last decade, has remained true to its family values while becoming one of the world’s leading seed brands. Those values and our commitment to supporting our customers with the best possible product and services will continue to be at the core of our offer as we enter into an exciting new era with Harwood Private Capital. I’m looking forward to working with the team as we target further growth across our international client base and the direct-to-consumer market.”
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