Inside Legal Life & M&A in the Food Sector – A Conversation with Mike Matthews
In this episode of TheMorePeople Podcast, our host Andrew Fitzmaurice sits down with Mike Matthews, Partner at Roythornes Solicitors and Head of their Food Team. With 15 years under his belt at the firm, Mike brings a wealth of insight into the legal side of mergers and acquisitions, food sector dynamics, and how the profession is adapting to the changing demands of talent and technology.
M&A Activity in the Food Sector – Still Going Strong
Mike leads Roythornes’ M&A division, with a particular focus on owner-managed businesses. He shares that while there was a temporary dip in deal activity after the Autumn 2024 budget, things have since picked up again. Deals that were rushed forward in anticipation of capital gains tax changes often still went ahead, even once fears were allayed.
While changes to Business Asset Disposal Relief (formerly Entrepreneurs’ Relief) have impacted smaller business owners more significantly, larger deals, often in the £10–30 million range are still getting done with regularity. Mike notes that the legal team typically steps in once a deal is already in motion, providing due diligence support, negotiating share purchase agreements, and uncovering any hidden risks or surprises.
“We see all sorts,” Mike admits, from castles run through company accounts to high-value paintings shuffled around just before sale. The legal team’s role, he says, is to spot these risks early and resolve them without derailing the transaction.
The Human Side of Legal Work – Building Trust, Not Just Paper Trails
While M&A may sound like paperwork and numbers, Mike emphasises that the people side of the job is still paramount. Particularly for family-owned businesses, selling can be an emotional process. That’s why trust, transparency, and strong communication between clients and their legal team are key.
Mike also underlines how senior lawyers like himself spend increasing amounts of time with clients, not just behind screens, guiding them through sensitive decisions and ensuring deals get over the line smoothly.
The Next Generation of Legal Talent
Mike’s own career story is a rare one in today’s legal world – a Spalding local who returned after university, joined Roythornes, and rose through the ranks. He’s proud of the firm’s culture and approach to recruitment and retention.
Roythornes has had success attracting and keeping young legal talent - partly due to its down-to-earth culture and partly thanks to clear career pathways. But like many employers post-COVID, they’ve had to rethink how to balance flexible working with the undeniable benefits of in-person mentorship.
“We don’t want to force four days in the office,” Mike says. “But we do want people to see the value of being around others; learning, developing, picking things up that you just don’t get through a screen.”
Tech and AI – Tools, Not Replacements
Mike also touches on the evolving role of AI in the legal world. While tools like Microsoft Copilot and backend automation are beginning to streamline admin tasks, the heart of legal practice, judgement, trust, negotiation remains very human.
“AI will help with the routine work,” he explains, “but I don’t see it replacing that trusted advisor role any time soon.”
Looking Ahead – Independent and Growing
As Roythornes celebrates its own milestones, Mike is clear-eyed about the future. In an industry increasingly dominated by big consolidations and outside investment, the firm is committed to maintaining its independent roots, resisting the temptation of big buyouts, and continuing to grow on its own terms.
Final Thoughts
This episode offers a rare glimpse into the legal engine room behind the scenes of many high-profile food sector deals. Whether you’re a founder preparing to sell, a young lawyer eyeing the next step, or a business owner navigating compliance, Mike’s perspective is a powerful reminder that the best legal partnerships are built on clarity, communication, and care.
Catch the full episode of The MorePeople Podcast to hear even more from Mike about his journey, legal war stories, and what makes the food sector such a dynamic space for both business and legal professionals.
