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 has a renowned reputation in Leeds and further afield, and therefore attracts loyal and local customers from Leeds and surrounding conurbations, as well as those from further afield.
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