Swedish Investor Acquires Majority Stake in Clean Label Specialists
After remarkably strong business growth, and consecutive record years, Ulrick & Short are delighted to announce a new majority shareholder – Novax AB. The investment arm of Swedish group Axel Johnson has partnered up with the clean label specialist, together setting out their ambitions to become a leader in the speciality food ingredients space.
Ulrick & Short specialise in high value-added, clean label, plant-based, functional ingredients, working with food manufacturers across Europe to develop transparent & healthier products. The new partnership lays down a statement of intent to achieve long-term, sustainable growth in new and existing sectors & markets.
With Ulrick & Short already a respected & established organisation in the clean-label ingredients sector, it is well-positioned to lead the charge of NPD to capture the shift towards healthier & more sustainable foods.
Senior Investment Manager & Sector Manager Food at Novax, Pär Warnström, said of the partnership “We are proud to partner up with Adrian, Andrew & the whole team at Ulrick & Short for this next chapter of their journey. As a long-term thematic investor… we are pleased to offer our enduring commitment to together with the team build and expand Ulrick & Short. The company illustrates much of what we believe are the hallmarks of an exceptional business in a promising market.”
We are pleased to offer our enduring commitment to together with the team build and expand Ulrick & Short
Pär WarnströmSenior Investment Manager & Sector Manager Food at Novax
The agreement will see Ulrick & Short continue to operate autonomously, with Adrian Short remaining as CEO. The underlying values of tenacious and industry-leading levels of technical support and customer service will continue to be the foundation of Ulrick & Short.
After 21 years, co-founder of Ulrick & Short, Andrew Ulrick, will retire from his operational role and continue to support and be available to the business as a strategic advisor. He said of the new partnership “I believe that in Novax we have found a partner with a compatible culture who will provide significant support in the future direction of Ulrick & Short”.
Adrian Short, who will continue to lead the business moving forward, added “It is clear we have an organisation and group of people that shares our values & beliefs… With Novax behind U&S, the company has a great chance of reaching its full potential… The next stage of the journey is going to be an exciting one.”
With Novax behind U&S, the company has a great chance of reaching its full potential… The next stage of the journey is going to be an exciting one.
Adrian ShortCEO - Ulrick and Short
Novax AB is a European long-term investor and operating partner. The investment arm of Stockholm based, €8bn, family-owned Axel Johnson Group. Building on a near 150-year history, they are long-term in their approach and have no exit strategy in their commitments. Partnering up with quickly growing, sustainable companies sharing a long-term vision of business growth, their commitment is to build and support leading and profitable businesses over the long haul. The partnership with Ulrick & Short represents their most significant move to date in the food ingredients sector.
