RCS - Literacy Capital PLC - New Investment

Literacy CapitalAnnouncement

09/04/2025 07:00

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RNS Number : 2032E  Literacy Capital PLC  09 April 2025

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Republic of South Africa.

 

09 April 2025

 

Literacy Capital plc ("Literacy Capital", "BOOK" or the "Fund")

 

New Investment

 

Literacy Capital invests in Langford's as first acquisition for newly formed
Red Sky Food Group

 

Literacy Capital is pleased to announce the completion of its investment into
Langford's, a leading manufacturer and supplier of award-winning premium meat
products, based in Wales.

 

Founded in 2003 by John Langford and Christine Gethin, Langford's is a trusted
brand with deep heritage in food manufacturing, having enjoyed considerable
growth over the term of their ownership.

Literacy's investment facilitates the retirement of John and Christine, whilst
Christine's son, Josh Gethin, remains in the business as Managing Director of
Langford's, leading on developing new product lines and customer accounts.

 

Langford's premium quality products, agile production and excellent customer
service have helped it to build a stellar reputation as a reliable supplier,
highly valued by its customers. Langford's operates from well invested factory
premises located in Welshpool, Powys and employs 40 members of staff.

 

Literacy Capital has invested alongside Mark Chantler, who joins the newly
formed parent company of Langford's, Red Sky Food Group, as Executive
Chairman. Mark brings a wealth of experience and successful track record in
food manufacturing as the former CEO of Meadow Foods, a dairy ingredients
manufacturer, where he led the business through three successful transactions,
running the business on behalf of two different private equity owners before
exiting in 2024.

 

Langford's is an attractive platform investment for Red Sky Food Group, which
will look to grow organically and via acquisitions in the food manufacturing
sector, focussing on protein-based products.

 

Richard Pindar, CEO of BOOK's Investment Manager, commented:

 

"We are really pleased to announce the completion of our investment in
Langford's, another successful founder-owned business, and to co-invest
alongside Mark Chantler. We have appraised several food manufacturing
businesses over a reasonable period with Mark and are delighted that
Langford's is the first business to join the newly created Red Sky Food Group.
The approach taken with Mark demonstrates the patience shown and time needed
to unearth attractive investment opportunities, which are considered to have
sufficient potential to generate strong returns for shareholders.

 

We also look forward to working with Josh. He has gained a significant amount
of experience at a relatively young age and run Langford's impressively over
the last couple of years. We look forward to further expanding and investing
in the business set up by John and Christine over twenty years ago."

 

Mark Chantler, Executive Chairman of Red Sky Food Group, commented:

 

"I am delighted to be investing alongside Literacy Capital in Langford's, and
becoming Executive Chairman of its new parent, Red Sky Food Group.

 

Since stepping down from Meadow Foods as CEO in 2022, and more recently as
Chairman last year, I have enjoyed getting to know Literacy Capital. Their
track record and approach in working with these types of businesses is
impressive and I couldn't think of a better partner to co-invest alongside,
having identified an attractive opportunity in food manufacturing.

 

I am excited to be supporting Josh in his role as Managing Director to further
build on the excellent foundations established by John, Christine and Josh at
Langford's, as well as working with the team at Literacy Capital to source
additional opportunities as we build out the Red Sky Food Group more broadly."

 

Enquiries

For further information, please contact:

 

  Literacy Capital plc / Book Asset Management LLP:   +44 (0) 20 3960 0280

  Richard Pindar / Aasha Tailor

  MHP Group:

  Reg Hoare / Ollie Hoare / Matthew Taylor            +44 (0) 7817 458804

                                                      book@mhpgroup.com (mailto:book@mhpgroup.com)
                                                      +44 (0) 20 7496 3000

  Singer Capital Markets Securities Limited:

  Alaina Wong

 

About Literacy Capital:

 

Literacy Capital (BOOK.L) is an investment trust that was co-founded by Paul
Pindar and Richard Pindar in 2017 with £54m of capital. Literacy subsequently
listed on the London Stock Exchange in June 2021. The Fund focusses on
opportunities to invest for the long-term in growing private businesses where
a clear route to creating additional value can be seen with its support. The
fund structure is evergreen, allowing it to be more flexible and to
accommodate the wishes or needs of founders.

 

It also has a unique charitable objective, to donate 0.5% of annual NAV to
charities focussed on improving UK literacy in children. £11.2m has been
donated or reserved for donation to charities since the trust's creation in
2017.  For more information, please visit our website:
www.literacycapital.com
(https://protect.checkpoint.com/v2/___http:/www.literacycapital.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzowNGJmYTYxZGIxMTNhZmFhMTU5MzYyMGE2ZGIxNjlmNTo2OjkzMDc6OTVmMmE3MGRjNmU3MzM5NTJjNjYyZDY2NjllZGI5YjMwNTExZjZhNGQ1YTJiZjI3ZmEzYWUzYWZhZDhhMWY3MDpwOkY6Tg)
.

 

Website:

www.literacycapital.com
(https://protect.checkpoint.com/v2/___http:/www.literacycapital.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzowNGJmYTYxZGIxMTNhZmFhMTU5MzYyMGE2ZGIxNjlmNTo2OjkzMDc6OTVmMmE3MGRjNmU3MzM5NTJjNjYyZDY2NjllZGI5YjMwNTExZjZhNGQ1YTJiZjI3ZmEzYWUzYWZhZDhhMWY3MDpwOkY6Tg)

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Fund's website
at www.literacycapital.com
(https://protect.checkpoint.com/v2/___http:/www.literacycapital.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzowNGJmYTYxZGIxMTNhZmFhMTU5MzYyMGE2ZGIxNjlmNTo2OjkzMDc6OTVmMmE3MGRjNmU3MzM5NTJjNjYyZDY2NjllZGI5YjMwNTExZjZhNGQ1YTJiZjI3ZmEzYWUzYWZhZDhhMWY3MDpwOkY6Tg)
.

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