Member Article

Kitwave acquires Reading frozen foods supplier

North Tyneside-based wholesaler Kitwave has acquired Reading-based Phoenix Fine Foods Limited for an undisclosed sum.

The deal marks the beginning of a new phase of growth for Kitwave following a multimillion pound investment from Pricoa Capital Group earlier this year.

Phoenix Fine Foods, which has a turnover of around £8m, is a wholesale supplier of frozen foods including vegetables, pizzas, fish and ice cream.

The purchase of Phoenix, which has a turnover of around £8m is the first acquisition since the refinancing deal and will support Kitwave’s wider frozen foods offering as well as bolstering its national presence in the sector.

It will also improve Kitwave’s access to the London market and support the recent investment made within its Luton operation.

David Brind, Kitwave Director, said: “We’re very pleased to complete another transaction so quickly after the new investment has come into the group. Phoenix provides a further solid base to our expanding frozen division and further access into the growing London and southern market.”

North East law firm Muckle LLP acted on behalf of Kitwave - and its subsidiary Eden Farm Limited - providing legal advice throughout the transaction.

Muckle’s corporate team Partner, Philip Clare, led the deal with support from Senior Partner Hugh Welch and trainee solicitor Stephanie Brown.

Philip added: “This timely acquisition by Kitwave comes hot on the heels of the substantial refinancing package we advised on earlier this year and it’s fantastic to see this funding already being used to acquire Phoenix Fine Foods.

“We’ve been working with Kitwave for a number of years now and we are pleased to have acted for them once again as they continue their expansion plans at pace.

“Our region needs thriving, ambitious companies and market leaders like Kitwave and I am delighted that Muckle LLP has played its part in making this acquisition happen.”

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