Flagship Food Group, have announced an agreed offer to acquire Atlantic Foods Group.
The deal will bring together two businesses focused on developing, sourcing, manufacturing, and distributing a wide range of innovative food products for retail and restaurant customers.
Commenting on the proposed acquisition, Rob Holland, chief executive officer of Flagship, said: "The acquisition of Atlantic Foods will represent an excellent opportunity for us to further develop our global food business.
Russell Maddock and Edward Baker will remain in their current capacities as CEO and managing director, respectively, of Atlantic Foods. Maddock added: "Our new partnership with Flagship represents the perfect fit for our company. Flagship values our people, our products, our relationships, our culture, and all of the attributes that make Atlantic valuable to our customers.
We expect very little to change, other than that we now have more resources and support to fuel our mission of becoming a premier, food service-focused, collaborative supplier partner to our customers across Europe."
Completion of the deal is expected to occur on or before the end of May 2013.