Brosnan backs honey firm takeover

AN investment fund led by Denis Brosnan has backed the takeover of a British honey manufacturer for over €10 million.

Lydian Capital, a Swiss-based investment house founded by Mr Brosnan, is a major shareholder in Wellness Foods, which has bought Oxfordshire firm Rowse Honey Company.

Investors in Lydian Capital include John Magnier, JP McManus and Dermot Desmond. Mr Brosnan is a close business associate of the ‘Coolmore gang’. He chairs their nursing home company Barchester Healthcare and was also chairman of Next Generation, the fitness club chain.

Lydian Capital was set up by Mr Brosnan and invests between €10m to €50m, focusing on the consumer foods, leisure and healthcare sectors.

According to the company’s website, its objective is to invest in businesses that will achieve superior long-term capital growth by acquiring companies in partnership with management and arranging and leading buy-outs or providing further financial resources to help established companies grow.

The Rowse Honey Company is one of the oldest honey-makers in Britain, going back more than 50 years.