Literacy Capital Invests in Langford's, Forming Red Sky Food Group
Why we think this is neutral
The RNS announcement is about a new investment by Literacy Capital plc, which does not fall into any of the mandatory news categories. While the investment in Langford's and the formation of the Red Sky Food Group are positive developments, the RNS does not contain any specific financial figures or trading updates that would warrant a stronger sentiment score.
Key Points
- Literacy Capital invests in Langford's, a leading manufacturer and supplier of premium meat products
- Langford's founders John Langford and Christine Gethin retire, with Christine's son Josh Gethin remaining as Managing Director
- Literacy Capital co-invests alongside Mark Chantler, who joins Red Sky Food Group as Executive Chairman
- Red Sky Food Group will look to grow Langford's business organically and through acquisitions in the food manufacturing sector
Summary
Literacy Capital has invested in Langford's, a leading manufacturer and supplier of premium meat products, as the first acquisition for its newly formed Red Sky Food Group. The investment facilitates the retirement of Langford's founders, John Langford and Christine Gethin, while Christine's son, Josh Gethin, remains as Managing Director. Literacy Capital has co-invested alongside Mark Chantler, who joins Red Sky Food Group as Executive Chairman. Langford's is an attractive platform investment for the group, which will look to grow organically and through acquisitions in the food manufacturing sector, focusing on protein-based products.