Sectors Retail, consumer and leisure
Location Somerset, UK
Exit date November 2008
Investment status Realised
Exit details Sold to Tine, a Norweigan milk cooperative, realising 2.0 x return

Ilchester Cheese

The company

Ilchester Cheese Company Ltd is the leading producer of blended cheese in the UK. Founded in 1962, Ilchester was the first British cheese company to blend cheeses with other ingredients. Having created the market, Ilchester has continued to innovate and today sells some 50 products within the UK and exports to over 20 countries around the world.

Growth strategy

The Ilchester management team wanted to grow the export side of their business and invest in new product development, but needed capital and support in order to realise their ambitions.

The Inflexion difference

We partnered with the management team to source and recruit a number of senior staff with the skills and experience required to take the business forward. We also supported Ilchester’s investment in exporting and new product development, helping to ensure the company was ideally positioned to attract an international buyer.

Under our ownership, Ilchester cemented its position as market leader in the UK blended cheese market, with the company achieving an 11% CAGR over the investment period.

We realised our investment in Ilchester in 2008, selling the business to Tine, a Norwegian milk cooperative, for a x2 money multiple.