KITWAVE GROUP
Acquired by
ONE EQUITY PARTNERS
KITWAVE GROUP acquired by ONE EQUITY PARTNERS
Target
KITWAVE GROUP
Acquirer
ONE EQUITY PARTNERS
Context
The take-private acquisition of Kitwave Group by One Equity Partners signifies a definitive shift toward industrialized scaling in the UK food and beverage wholesale sector. The strategic logic of this transaction hinges on a "logistical-consolidation" maneuver, merging the target’s extensive regional reach and multi-category product depth with the acquirer’s proven expertise in executing complex buy-and-build cycles. This structural alignment provides the organization with the institutional capital and strategic hardware necessary to aggressively pursue acquisitions in a market defined by high fragmentation.
KITWAVE GROUP, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as low as the 11.3x average currently observed in the Business Services sector.
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Target
Kitwave Group is a Delivered Wholesale Services company based in the United Kingdom, specializing in the supply and logistical delivery of a broad impulse product portfolio. The organization operates a three-segment model encompassing ambient goods, frozen and chilled foods, and specialized foodservice supplies. Its value proposition is anchored in a localized delivery framework that services independent convenience stores, grocery chains, and hospitality venues. Rather than acting as a traditional stationary wholesaler, the firm utilizes a nationwide logistics network to fulfill high-volume daily orders with a focus on service reliability. The entity's strategy involves the integration of niche regional operators to expand its product range into categories such as butchery, alcohol, and fresh produce.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with KITWAVE GROUP
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 09/2024 | KITWAVE GROUP | CREED CATERING SUPPLIES | UNITED KINGDOM | B2B Specialized Distribution | The acquisition of Creed Catering by Kitwave establishes a formidable logistical link between the Northern and Southern UK distribution channels. This strategic maneuver professionalizes the group's foodservice operations by integrating a high-heritage regional player that maintains deep-rooted institutional relationships in the healthcare and education sectors. By unifying these previously separate geographical territories, the organization constructs a seamless national delivery network optimized for significant procurement and back-office synergies. The integration bolsters the platform's ability to manage high-volume, time-sensitive contracts for independent hospitality clients, utilizing the specialized technical operational depth of the new unit to enhance overall service reliability. |
| 03/2024 | KITWAVE GROUP | TOTAL FOODSERVICE SOLUTIONS | UNITED KINGDOM | B2B Specialized Distribution | Integrating Total Foodservice Solutions into the Kitwave Group infrastructure secures a dominant logistical foothold across the North West and Yorkshire catering landscapes. This maneuver specifically eliminates the geographic fragmentation between existing northern depots, establishing a contiguous service network for the region's high-stakes institutional clients. By unifying these high-heritage assets, the group achieves an immediate expansion of its multi-temperature product range, significantly bolstering its capacity to manage comprehensive supply contracts for schools and healthcare facilities. |
| 09/2019 | KITWAVE GROUP | CENTRAL SUPPLIES | UNITED KINGDOM | B2B Specialized Distribution | ntegrating Central Supplies into the Kitwave Group infrastructure secures a decisive logistical foothold in the UK chilled food landscape. This strategic maneuver establishes a complementary service offering that sits parallel to the group's industry-leading frozen operations, effectively removing the category friction for independent customers seeking a unified temperature-controlled supply chain. By unifying the target’s West Midlands technical operational depth with the group's national delivery framework, the organization constructs a comprehensive "multi-temp" platform optimized for high-frequency fulfillment. |
| 05/2017 | KITWAVE GROUP | ALPINE FINE FOODS | UNITED KINGDOM | B2B Specialized Distribution | The acquisition of Alpine Fine Foods by Kitwave signifies a major territorial advancement for the group’s Foodservice division. The strategic logic of this transaction hinges on a "geographic-locking" maneuver, merging the target’s technical operational depth in the Humberside region with the acquirer’s established logistics framework and the existing footprint of Miller Food Service in York. This structural alignment provides the combined entity with the logistical hardware and category-specific talent necessary to address the increasing demand for integrated multi-temperature supply solutions in the North of England. |
| 09/2016 | KITWAVE GROUP | H B CLARK | UNITED KINGDOM | B2B Specialized Distribution | The acquisition of the H B Clark by Kitwave signifies a major categorical advancement for the group’s Northern division. The strategic logic of this transaction hinges on a "sector-diversification" maneuver, merging the target’s technical operational depth in the alcoholic beverage market with the acquirer’s established logistics framework and national scale. This structural alignment provides the combined entity with the logistical hardware and category-specific talent necessary to address the increasing demand for consolidated supply solutions in the on-trade hospitality sector. |
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