Kitwave makes £29m wholesaler acquisition

12th December 2022 | Jack Oliver

Wholesale business Kitwave has announced the acquisition of WestCountry for £29m.

Established in 1856, WestCountry is a wholesaler of fresh produce in the South West of England and held net assets worth £11m as of January 2022. They supply to businesses in the retail, hospitality, and catering sectors.

The acquired balance sheet includes around £7.8m of cash and a freehold property with a value of around £1.2m.

The acquisition will be incorporated into Kitwave’s existing food service division which includes H.B Clark & Co., David Miller Frozen Foods, and M. J. Baker Foodservice.

Paul Young, Chief Executive Officer of Kitwave, said: “The acquisition of WestCountry […] complements our existing foodservice offering in the South West, following the acquisition of M. J. Baker earlier in 2022.”

“The Group continues to trade well and despite wider macroeconomic pressures, the Directors believe the outlook remains positive”, he added.


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