Frederick's sold for £49m

Skelmersdale-based Fredericks Dairies has been sold to R&R Ice Cream, Europe's largest own label ice cream manufacturer, for £49m.

FredericksFredericks Dairies, which placed 86th in Lancashire Business View's Fab 500, has the licence to manufacture ice cream and related products for brands such as Cadbury, Del Monte, Vimto, Britvic and Barratt's.

The company was also the sole suppliers of ice cream to the 2012 Olympic and Paralympics Games.

Brothers Frank and Philip Frederick, who can trace ice cream manufacture in their family back 100 years, and their business in Lancashire back to 1976, are keeping their Freezeserve cold storage and distribution business at Simonswood.

James Lambert, CEO and executive chairman of R&R Ice Cream, said: "I am very excited about acquiring this successful business whose popular licensed products will prove valuable additions to our branded portfolio. It will also enable R&R to extend its successful partnership with Mondelez International into the UK."