CEO Departs Mr Fothergill's Seeds Amid Ownership Restructure

• Shareholder reorganisation of the group that owns Mr Fothergill's Seeds Limited completes
• New ownership structure is the platform for further growth and development at much-loved global brand

The family of funds within Harwood Capital Management Ltd (‘Harwood’), a leading investor in UK SME’s and lower mid-market companies, has increased its shareholding to take full control of the group that owns Mr. Fothergill’s Seeds Limited, the international business whose distinctively branded seed packets and horticulture products are much-loved by gardening enthusiasts around the world.

Established in 1978 and headquartered in Newmarket, Suffolk, Mr. Fothergill’s Seeds is an independent horticulture supplier providing gardening products ranging from seeds and bulbs to tools and other supplementary products. The group owns/operates multiple brands with Mr. Fothergill’s at the core, supplying its ranges to over 5,000 garden centres and retailers in the UK, complemented by its online, direct to consumer channel. The group has also been operating in Australia and New Zealand since 1989 where it has grown to become market leader. Strategic distributor relationships extend the group’s international reach into Canada, Europe and the Middle East. 

In February 2022, Harwood backed the MBO of the business, taking a material minority shareholding in the company with the aim of supporting its future growth and development to take an increased share of a £multi-billion global market.

Now, following an initial period of post-deal transition, augmenting the senior management team and infrastructure investment, including new servers, customer service software and the introduction of learning and development programmes to upskill the workforce, a shareholding restructure sees Harwood assuming control.

It also sees the departure of CEO Dave Carey, the son of one of the original founders, who is leaving the business. Trevor Parker, a highly experienced specialist adviser to private equity backed firms who had previously spent several months in the business, is returning to provide operational and strategic support to the management team.

He said: “Mr Fothergill’s Seeds is a much loved, global brand with great products and loyal customers. A business is rarely about one individual, and the family that is the Mr Fothergill’s Seeds team is no different. The Mr Fothergill’s Seeds family comprises a fantastic team of highly knowledgeable and experienced employees. I built a very close working relationship with them during the time I have already spent in the business. I look forward to building on that as we launch exciting new products and implement new systems and technology across the group.”

Dave Carey said: “I am proud of the part I have played in a business which has grown into the international operation it is today. However, after twenty-three years at Mr. Fothergill’s Seeds I now feel the time is right to leave, secure in the knowledge that the group is in the experienced hands of people who share the values that have underpinned its success to date.”

Jerry Wilson, Partner at Harwood Private Capital, said: “Harwood is a long term, considerate investor committed to supporting our portfolio companies to realise their full potential. With Mr. Fothergill’s Seeds, we haven’t just invested in a company but in the entire family of talented and committed people who bring the brand and its values to life every single day, reinforcing the enviable reputation the business has earned.

“By capitalising on the increasing interest in gardening worldwide and the focus on environmental matters, we firmly believe there is an exciting future ahead for Mr. Fothergill’s Seeds and those who work within it.

“I also want to thank Dave Carey for the part he has played over the years and wish him well for the future.”

Source : Harwood Private Capital

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