Gordon Allan, son of Malcolm Allan’s founder, expressed confidence that the new owners will uphold the company’s family values and reputation. James Macsween, MD of Macsween, also welcomed the investment, highlighting the potential for growth and collaboration between the two brands.

He said: “The Macsween family are delighted that the business is part of an ambitious new venture that will enable us to fulfil our strategic growth plans in the future.

“Both businesses have strong brands in particular sectors of the meat category, and we look forward to working together with the Malcolm Allan team.”

Bill Hazeldean, who becomes chairman of the Macallan Food Group, added: “Acquiring the Malcolm Allan business, alongside our investment in Macsween’s of Edinburgh, brings together two excellent businesses, both having product quality and customer service as their key priorities and core values.

“Macallan Food Group is backed by a family trust, that makes long-term investments, so the fundamental ethos of the business will not change.

“We will continue to run both businesses as separate entities, utilising synergies where appropriate, but retaining the individual identities and strengths of each organisation.

“It will be business as usual in the coming months as we implement our 200-day plan and develop our strategy for the future.”