Tue, 02 Jul 2024 | BUSINESS SALE
Turner Price, a food and drink wholesaler headquartered in Hull, has become the latest firm to be acquired by Lincolnshire-based Caterfood Buying Group, the independent buying group arm of Bidcorp UK.
Founded in 1992, Turner Price provides a range of more than 8,000 products, including fresh and chilled produce and store cupboard ingredients. The company has more than 2,500 customers across the North of England and Midlands.
The deal follows Caterfood Buying Group’s 2023 acquisitions of Harvest Fine Foods and Thomas Ridley Foodservice, as well as Bidcorp UK’s acquisition of ice cream manufacturer Northern Bloc Ice, announced last month.
Caterfood Buying Group is a growing network of independent businesses, with subsidiaries including Thomas Ridley Foodservice, Harvest Fine Foods, Nichol Hughes, Elite Fine Foods, Caterfood, South Lincs Foodservice and Cimandis.
Following the acquisition of Turner Price, Caterfood Managing Director Philip Atyeo said: "Turner Price is a highly successful foodservice supplier and delivers a great service proposition to its loyal customers. The business will continue to operate as an autonomous and independent business, in line with our decentralised model in the business."
Turner Price Managing Director John Gould said that Caterfood shared the firm’s “passion for customer led focus, harnessing strong supplier relationships, supporting staff development and ensuring that work is enjoyed by all.”
He added: "We feel this is the right time for us to be joining the Caterfood Buying Group, and are very much looking forward to continuing to build on the growth we have enjoyed and to further improve our customer offering."
Bidcorp UK Chief Executive Andrew Selley said that the acquisition of Turner Price would “further cement” Caterfood’s growing position within the industry.
He continued: "This latest acquisition is in line with the Bidcorp UK strategy to continue to grow the buying group side to national coverage, as well as increasing our network of manufacturing businesses, following our recent acquisition of Northern Bloc Ice Cream. The growth in these areas will allow us to continue to deliver service excellence to our customers and provide them with real added value."
M&A in the UK's food and drinks sector recently hit its highest level in eight years
Also see: Global and UK Food & Beverage M&A Insight - members can also access our comprehensive list of the world's leading private equity buyers of food & beverage brands.
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