Mon, 18 Nov 2019 | BUSINESS SALE
Independent wholesaler Kitwave has acquired Alpine Fine Foods Ltd. for an undisclosed sum, in a deal that sees it continue its expansion.
Alpine Fine Foods has a turnover of around £13 million and specialises in the supply and delivery of ambient, frozen, chilled and fresh products, including meat, fruit and vegetables, to the foodservice sector across Humberside and Yorkshire.
The deal is North Tyneside-based Kitwave’s second acquisition of a foodservice business, following its takeover of York-based Miller Food Service. Kitwave says the deal widens its product range and delivery capabilities.
The agreement also sees Kitwave head of frozen and chilled operations Ben Maxted join the board at Alpine Fine Foods alongside Miller Food Service managing director Gareth Wilson.
"The business is renowned for providing a quality delivered solution to its customers and this ethos is a key part of the Kitwave Group," Maxted said.
"We look forward to building further our foodservice offering to the benefit of both customers and suppliers alike."
Alpine Fine Foods managing director Phil Davis said: "The acquisition has come at an exciting time for Alpine, after an already successful year this is a positive move towards growing the business further."
Barclays Bank and Yorkshire Bank supported the acquisition with new finance facilities, while Kitwave was supported by Muckle LLP and KPMG, providing legal and due diligence services.
Kitwave was founded by chief executive Paul Young in 1988 and has grown from a regional confectionary business to a diversified, national wholesaler after pursuing numerous acquisitions since 2011.
The business enjoys a good regular clientele from the surrounding residents and trades, however benefits greatly from its location, taking advantage of museum visitors, tourists & day trippers, as well as people attending concerts at the Hydro and SE...
LEASEHOLD
Outstanding fish & chip shop/takeaway opportunity, long established business which has been completely refitted 3 years ago (£250k spend).
LEASEHOLD
Established October 1998, and has just celebrated its 25th anniversary, and is therefore extremely well-assembled and something of a Glasgow institution.
LEASEHOLD
10
|
May
|
North Yorkshire coaching inn on the market for £1.2m | COMMERCIAL PROPERTY
The General Tarleton Hotel and Restaurant, an 18th century c...
10
|
May
|
John Good Group acquires Grimsby shipping services company | BUSINESS SALE
John Good Group has acquired a shipping services provider th...
09
|
May
|
Landsec sells hotel portfolio for £400m | COMMERCIAL PROPERTY
Landsec has sold its entire hotel portfolio, comprising 21 a...
28
|
Mar
|
Food service business acquired at more than 10x profits | BUSINESS SALE
Total Foodservice, a wholesale catering supplies business, h...
20
|
Nov
|
Kitwave acquires drinks wholesaler as part of consolidation effort | BUSINESS SALE
Wholesaler Kitwave has acquired drinks distributor WLG (Hold...
13
|
Dec
|
Food wholesaler acquired at 7.4x profits | BUSINESS SALE
Fresh produce wholesaler WestCountry Food has been acquired ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.