Kitwave, the Newcastle based independent wholesale and distribution group, has expanded once more with a new acquisition advised by commercial law firm Muckle LLP.
Established in 1987, Kitwave Group specializes in delivering confectionery, soft drinks, snacks, alcohol, tobacco and groceries throughout the UK. The acquisition of Eden Farm will see the combined turnover for the Kitwave group approach £250 million with staff numbers topping 400. This follows a period of expansion for Kitwave which has seen them acquire Anderson Wholesale, Automatic Retailing and Teatime Tasties since 2011.
Eden Farm is a frozen food and ice cream wholesale distribution business whose products will significantly grow Kitwave’s range and increase its customer base to over 22,000. The 50 year old family-run business was originally set up as one minivan delivering its home-grown produce to customers but has grown to the point where its turnover has reached beyond £40 million, a figure which has doubled since 2009.
Eden’s national delivery network distributes top frozen food and ice cream brands from its depots in Peterlee, Cambridge, Bradford, Wales and Scotland. This network ideally complements Kitwave’s operations and geographical spread, making the acquisition a good fit for the group.
Paul Young, Managing Director of Kitwave group, said that: “Eden’s Managing Director, Frank Stephenson, and I have known each other for a number of years and we are delighted with the acquisition. Eden is a natural fit for the group — increasing Kitwave’s product range and providing a wider customer reach across the UK. Frank was keen to become part of a larger group, and Eden will continue to succeed and grow with Kitwave.”
Craig Swinhoe, Corporate Partner for Muckle LLP and the head of the team advising Kitwave, said: “We are delighted to help Kitwave to make another strategic acquisition to increase its national expansion. We have enjoyed working with the team at Kitwave once again on their fourth acquisition in three years. It’s great to see a North East business doing so well.”
For more information, help or advice on acquisitions please contact Craig Swinhoe on
0191 211 7945.