L&G expands private credit portfolio with £250m Magnavale Cold Storage investment UK & European Real Estate Debt team completes loan to diversify into new logistics sectors

London, 12 June 2025 – L&G announces the successful completion of £250 million private debt investment with Magnavale Ltd. (‘Magnavale’ or ‘the Company’) over a 10-year period. The debt facility totals £500 million, co-arranged by L&G and a US institutional investor. L&G invested on behalf of a number of internal and external client mandates, in a transaction which marks an expansion of the firm’s real estate debt portfolio into new logistics sectors.

Magnavale is a leading UK-based provider of temperature-controlled storage and value-added services for the food industry operating from four strategically located cold storage facilities, providing a critical storage solution to ensure supply of food can cope with seasonal demand and unpredictable supply shocks.

With structural trends such as unpredictable climate cycles, population growth and geopolitical instability, cold chain storage can minimise the disruption to supply chains and greatly contribute to food security in the UK economy. Robust end-to-end cold chains are also integral to support the reduction of food waste.

James Spencer-Jones, Head of Real Estate Debt, UK & Europe: “I’m delighted to announce we’re expanding into cold storage within our real estate debt portfolio, in particular with a market-leading provider such as Magnavale. This investment provides an opportunity to support critical infrastructure within our supply-chains, to reduce food waste and potential supply shortages”.

Andrew Lawrence, Director, Sadel and Magnavale: “We are proud to partner with L&G and our US institutional co-investor to support Magnavale’s continued growth. Their backing is a strong endorsement of both our strategy and the critical role that cold chain infrastructure plays in securing the future of the UK’s food supply chain. This investment reinforces Sadel’s approach of building best-in-class operations and prioritising efficiency through targeted, long-term investment. This partnership enables us to accelerate our expansion, enhance resilience across our national network, and deliver energy-efficient, future-ready facilities that meet the evolving needs of our customers and the wider economy”.

Patrick Sweeney, Investment Manager, Real Estate Debt UK & Europe: “We have high conviction for the U.K cold storage sector which demonstrates unique and compelling investment fundamentals. Magnavale has invested a significant amount in future proofing their portfolio and we are delighted to be supporting them in their next phase of growth”.

The Lender Group was advised by Clifford Chance and CBRE. Macfarlanes advised the Company. Magnavale’s comprehensive suite of services includes blast freezing, up-tempering, contract packing, datecoding, labelling, and export services. These offerings are designed to streamline the cold chain, reduce costs, and minimize complexity for food manufacturers, retailers, and suppliers.

In February 2025, Magnavale opened the UK’s largest single cold store, boasting 101,000 fully automated pallet spaces at it’s Easton site. In addition to this, the company has recently upgraded its other facilities across Chesterfield, Scunthorpe, Warrington with best-in-class plant and equipment, and completed redevelopment and extension works, providing significantly improved energy efficiency and extending its network capacity. Across all sites, Magnavale offers a combined capacity exceeding 350,000 pallet positions. Magnavale Ltd is owned by Sadel Group, a Luxembourg-based family office. Private Markets platform is a major growth driver for Legal & General, holding £57bn AUM across real estate, infrastructure, private credit, and venture capital, and backed by a team of 200+ investment professionals.

 

Notes to Editor

 

PLEASE NOTE.

 

THIS PRESS RELEASE ORIGINATED FROM L&G AND HAS BEEN FORDWARDED TO YOU BY SADEL/MAGNAVALE.

 

THE ORIGINAL PRESS RELEASE CAN BE FOUND ON L&G’S WEBSITE: https://group.legalandgeneral.com/en/newsroom/press-releases/l-g-expands-private-credit-portfolio-with-250m-magnavale-cold-storage-investment

 

About L&G

Established in 1836, L&G is one of the UK’s leading financial services groups and a major global investor, with £1.1 trillion in total assets under management (as at FY24) of which c. 44% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long- term savings and investment needs of customers and society.

 

About our Asset Management business

L&G’s Asset Management business is a major global investor across public and private markets, with £1.118 trillion in AUM.* Our clients include individual savers, pension scheme members and global institutions.

We provide investment solutions from index-tracking and active funds to liquidity and liability-based risk management strategies.

Our investment philosophy and processes are focused on creating value over the long term. We believe that incorporating financially material sustainability criteria, when relevant to our clients, can create value and drive positive change. This reflects L&G’s purpose: ‘Investing for the long term. Our futures depend on it.’

*Source: L&G internal data as at 31 December 2024. The AUM disclosed aggregates the assets managed by L&G in the UK, US, and Hong Kong (2018-2019 only) and Singapore from July 2023. Excludes assets managed by associates (Pemberton, NTR, BTR).

 

Further information

Name: Bella Golding

Role: Senior Communications Executive

Business: Asset Management

Tel: +44 (0)7596 914332

Email: Assetmgtpress@lgim.com

 

Seafish, the public body supporting the seafood industry, have launched a new suite of resources to help UK seafood businesses explore export opportunities and grow in international markets. From global trade insights to practical guides and expert tips, these resources support businesses at every stage of their export journeys.

They can be accessed via the links below:

• Seafood for Trade | Seafish – this page provides an overview of the role that international trade plays in a thriving UK seafood industry. It also highlights recent guidance pulled together by Regulatory Affairs experts concerning export opportunities in East Asia.
• Latest UK Seafood Trade Data | Seafish – this report (from the Seafish Economics, Insight and Advice team) analyses the UK seafood trade in the twelve-month period to December 2024.
• Untapped Opportunities: Inside the UK Seafood Pavilion at SEG 25 | Seafish – this article offers an inside look at Seafood Expo Global 2025 and how UK seafood businesses are unlocking previously untapped export opportunities through global trade shows.
• Considering exporting? Eight top tips | Seafish – this blog post (from The Seafish Head of Economics, Insight and Advice) details the eight key steps to ensuring a successful venture into international markets.

We hope you find them useful.

 

Operations Manager Valentina-Florin Drescanu was delighted to represent Oakland International at the Cold Chain Federation’s recent Parliamentary Reception in London along with cold chain members and Parliamentarians to highlight a truly vital sector.

 

The event’s focus was to shine a spotlight on the cold chain and how critical it is to the nation from ensuring food security and public health to supporting diverse industries and vital supply lines, and the importance of a robust and resilient cold chain.

 

Said Valentina: “It was an incredible opportunity to attend the Cold Chain Federation’s Parliamentary Reception with my colleague Site General Manager Martyn Chapman from our Bardon facility.

 

“Such a fantastic event filled with inspiring conversations and connections with a diverse group of professionals in the cold chain sector, the backbone of our modern supply system, ensuring essential food and pharmaceutical products reach people safely and reliably.”

 

Valentina is one of the recipients of the Cold Chain Federation’s 2024 Emerging Leader Bursary, a 12-month leadership development journey, which began in October 2024. Phil Pluck, Cold Chain Federation CEO, recently visited Oakland’s Bardon depot to catch up with Valentina to see firsthand how she is progressing and to support her in her ongoing leadership training.

 

Cold Chain Federation CEO Phil Pluck commented: “Valentina is a shining example of the value of the Cold Chain Federation Emerging Leader Bursary. With Oakland’s support and culture she has come from an admin post to Operations Manager in just four years, and to now give Valentina exposure to a formal leadership support programme and to the wider leadership, political and sustainability challenges of the cold chain, is an opportunity that Valentina has taken up with real enthusiasm.

 

“She really is one to watch for the future and whilst the CCF are providing the Emerging Leader programme, Valentina wouldn’t have the opportunity to take up this incredible learning experience without the full support of Oakland International who are a great example of spotting and developing their leaders of the future.”

 

Added Valentina: “During Phil’s visit we discussed my daily responsibilities, progress since joining Oakland, and the key projects I have contributed to in my role. I was also able to share our initiatives, explore ways to strengthen collaboration, and discussed how he can further support my growth as a leader in the cold chain sector.

 

“Thank you, Phil, for your encouragement and for investing in my future, the Oakland team, and the cold chain industry, and I am so grateful to have represented Oakland at such an important event.”

 

Oakland International is an authority in direct to consumer, case consolidation, contract packing, storage and distribution, food tempering and brand development support for ambient, chilled, and frozen food, servicing retail, convenience, discount, wholesale and food service markets in the UK and Ireland.

 

A Certified B Corp, the company is currently working towards becoming the first business within their sector to achieve net zero.

How frozen produce specialists are supporting food redistribution charity to deliver meals to communities and people in need.

Since 2017 Greenyard Frozen UK has been supporting FareShare, the UK’s leading food redistribution charity, helping to ensure that no good food goes to waste. FareShare works with a network of 8,000 charities nationwide to help feed people in need, strengthen communities and harness the power of food to change lives.

Greenyard Frozen UK, part of the Greenyard Group, one of the largest suppliers of fresh, frozen and prepared fruit and vegetables in the world, supplies a large percentage of retailers, food service and food manufacturers across the country. Greenyard has two production sites in the UK, both for processing and packing products including peas, cauliflower, carrots, raspberries and strawberries.

Greenyard recently became part of FareShare’s Food Life Extension project “FLEX”.  Through the project Greenyard prepares and freezes surplus fresh produce to store and supply to organisations across the FareShare network. This extends the life of fruit and vegetables by 12-24 months and enables charities the convenience of nutritious food at times when fresh market produce isn’t available.

Laura Dixon, communications and community projects manager at Greenyard says: “One of the benefits of FareShare’s FLEX project is being able to extend the life of fresh produce. For example, when there is an offer of 15 tonnes of surplus carrots which only have a few good days left, FareShare just can’t get them out to the charities quickly enough. Thanks to our expertise and facilities, we can prepare and freeze the nutritious carrots and extend their shelf life. Over a longer period, charities will benefit knowing that when fresh produce isn’t available, there will still be some frozen seasonal stock to fill the gap.”

Greenyard has also supported the FLEX project by exploring collaborations with specialist cannery WeCan Foods. This ensures that even small quantities of surplus food from various suppliers, can go into making canned soups. Greenyard recently provided edamame beans to make a potato and bean soup – eventually making over  160,000 cans to distribute to charities and people in need.

Laura Dixon says: “The soups-in-a-tin FLEX initiative increases the shelf-life of healthy and convenient pure-plant products, which is amazing for charities! Not only is this a nutritious meal, it is ideal for those who have limited cooking facilities.

Alongside supporting the FLEX project, Greenyard has been working behind the scenes to support other FareShare initiatives including the charity’s employability programme; regular volunteering at FareShare sites across the UK; and visiting charities that benefit from FareShare food, seeing the impact on individuals and their communities firsthand.

Laura Dixon says: “I hope that this story will inspire a few more partners to get on board with FareShare. Just one company can make the difference, by having that one key ingredient for a tasty and nutritious ready meal or soup. And there’s so many other factors that can add up and make such a huge difference. So it’s so much more than just supplying food to charities, it’s about creating a healthier future for everyone.”

We’re incredibly proud to announce that Caroline Hunter, BA (Hons), MSc has been promoted to Commercial Director, effective immediately! 🎉

 

Caroline joined Blended as a Commercial Executive and, from day one, has shown exceptional drive, commitment, and strategic vision. Over the years, she’s been a key force in growing our market presence, nurturing strong client relationships, and helping to launch innovative new products, such as

VeCO₂- The worlds first certified Vegan Carbon Dioxide.

 

Her promotion is a reflection of the huge impact she’s had on our business—and the confidence we have in her ability to lead our commercial strategy as we continue to grow, evolve, and enter exciting new markets.

 

Caroline’s journey is a shining example of hard work, dedication, and leadership. We couldn’t be more thrilled to see her step into this role and help shape the future of Blended.

 

Please join us in congratulating Caroline on this well-deserved achievement. Here’s to the next chapter of success—together!

Continuing to place emphasis on developing long-term infrastructure, Bidfood, one of the UK’s leading foodservice providers, has confirmed that its new depot in Worcester is now opening and phasing in deliveries from this summer until later this year.

Located on the Worcester Six Business Park, the site is already proving an excellent addition to Bidfood’s network, offering transport links to the Midlands region and serving the communities in which it operates by providing around 200 new jobs to local people.

The new depot covers 60,000 sq ft and boasts high quality, modern facilities as well as offering additional capacity supporting growing customer demand in and around the Birmingham area.

Mark Wood, Chief Operating Officer at Bidfood said “Worcester will provide an outstanding addition to our already strong depot network. The introduction of yet another new depot continues to emphasise the importance that we place on long-term investment in our infrastructure.

“Following record volumes of items handled by the Bidfood network recently, the addition of this new depot will further enhance our ability to provide our customers with service excellence and ultimately place us closer to them.”

The wholesaler can also confirm the development of a 28^th depot in Durham, expecting to open sometime in the summer of 2026, strengthening Bidfood’s estate in the North-East.

Further updates will follow.