Summary
- Foresight Group has supported the management buyout of Strathmore Foods, the Forfar-based ready meal manufacturer.
- Strathmore owns McIntosh of Strathmore, which Foresight describes as Scotland’s leading chilled ready meal brand.
- The company employs more than 115 people and produces 15 million meals a year.
- Former sales director Neil MacRae has been appointed managing director.
- Former Highland Spring managing director Mark Steven joins the board as chair.
Full Article
Investment manager Foresight Group has backed the management buyout of Strathmore Foods, a Forfar-based manufacturer of chilled and frozen convenience food.
Founded in 1973, Strathmore makes branded and private-label ready meals and supplies major UK retailers. It employs more than 115 people and produces 15 million meals a year. Its brands include McIntosh of Strathmore, which Foresight describes as Scotland’s leading chilled ready meal brand, along with Craft Mac Co. and Scottish Favourites.
Foresight is investing alongside the existing shareholders to help the management team pursue growth across retail, foodservice and contract manufacturing. The value of the investment was not disclosed.
Former sales director Neil MacRae has been appointed managing director. Foresight has also introduced Mark Steven, former managing director of Highland Spring, who will join the board as chair.
Julie Nisbet, a director of Strathmore Foods, said: “Strathmore has been at the heart of our family for many years, and we are incredibly proud of the business we have built alongside our employees, customers and suppliers. As we enter this exciting new chapter, we are delighted to welcome Foresight as our investment partner while retaining a minority shareholding in the Company.”
Neil MacRae said: “Strathmore has built an outstanding reputation for quality, innovation and customer service over more than fifty years. With Foresight’s support, we look forward to continuing that heritage while investing in new growth opportunities across retail, foodservice and contract manufacturing.”
Ryan Finesy, senior investment manager at Foresight Group, said: “Strathmore is a high-quality food manufacturing business with a leading position in the Scottish ready meal market, longstanding customer relationships and a strong track record of growth. We are delighted to support Neil and the wider management team as they build on the Company’s strong foundations and execute the next phase of growth.”
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Foresight has invested more than £120m in companies across Scotland. In 2026, it exited two Scottish portfolio companies, FIS Chemicals and ATL Turbine Services.
Advisers to Foresight were Spayne Lindsay (corporate finance), Burness Paull (legal) and Henderson Loggie (tax). Advisers to the company included Interpath (financial and tax due diligence) and Addleshaw Goddard (legal).
