The investment is to support milk and dairy ingredients supplier Meadow Foods' strategy to grow through organic expansion and acquisitions.
Simon Chantler, executive chairman of Meadow Foods, said that the investment will provide opportunity for all of the company’s producer partners, customers and employees.
Following the deal, the Chantler family will remain a substantial shareholder, and the company says there are no plans to change the executive management or the structure of the business.
About the companies
Meadow Foods currently handles more than 500m liters of milk each year direct from more than 550 farmer suppliers from across the north of England, Midlands and north and west Wales.
The company, founded in 1992, operates from factories in Chester, Peterborough and Holme-on-Spalding Moor, and employs more than 275 people.
Paine & Partners is an investment firm that focuses on the global food and agribusiness sectors. The company currently invests through its $893m Paine & Partners Fund IV, which is solely dedicated to agribusiness investing.