Prize Food, a Montagu Private Equity portfolio company jointly owned with 3i and Electra Partners, has sold sandwich maker Buckingham Foods to Duke Street Capital.

Montagu first invested in Prize Foods in 1997 when it was acquired from Booker. Following the sale of Buckingham Foods, the group now comprises Cheviot and Headland Foods.

Buckingham Foods is one of the UK's largest producers of pre-packaged sandwiches, producing c. 1.1 million sandwiches each week. It has a strong presence in the premium end of the market with customers including leading retail multiples. It operates from two sites in Milton Keynes and Tamworth.