Inflexion were consistently ready to invest in developing the business and this put Ilchester in very good shape for the next phase of its growth. Inflexion are quick and non-bureaucratic in making decisions – great when running a fast-moving business.

Jonathan Smith, Chairman, Ilchester Cheese Company

About 

Inflexion worked closely with Ilchester Cheese Company management to grow exports before it was bought by Tine, Norway’s largest Norwegian milk co-operative and makers of Jarlsberg cheese, generating 2.7x money.  

Ilchester Cheese 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 selling some 50 products within the UK and exporting to over 20 countries around the world. 

Value acceleration 

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% sales CAGR over the investment period. 

We realised our investment in Ilchester in November 2008, selling the business to Tine, Norway’s largest milk cooperative, generating a 2.7x return on investment. 

2.7
x

return on investment

40
%

revenue growth

Inflexion were consistently ready to invest in developing the business and this put Ilchester in very good shape for the next phase of its growth. Inflexion are quick and non-bureaucratic in making decisions – great when running a fast-moving business.

Jonathan Smith, Chairman, Ilchester Cheese Company