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12/2022

WESTCOUNTRY FOOD acquired by KITWAVE GROUP

UNITED KINGDOM B2B Specialized Distribution REV £10–30M

Context

WestCountry Food Holdings has been acquired by Kitwave marking a critical diversification of the group's product suite into the fresh produce category. This strategic acquisition complements the previous operation of M. J. Baker, creating a dense, multi-temperature service hub in the South West of England. By unifying the target’s high-heritage grower network with the group's national logistics framework, the organization constructs a comprehensive "one-stop-shop" platform for regional foodservice clients. The integration leverages the target's regional density to maximize route efficiency and procurement leverage across the South West.

The acquisition of Westcountry Food is part of the growth strategy of Kitwave Group, which already has several external growth operations under its belt, notably M.J. Baker Foodservice in 2022.

WESTCOUNTRY FOOD, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Business Services sector (11.4x).

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Target

WestCountry Food Holdings Limited functions as a high-fidelity fresh produce distribution platform specialized in the procurement and supply of local, regional, and imported seasonal goods. The organization operates a sophisticated supply chain that bridges the gap between a dedicated network of high-quality local growers and the diverse requirements of the South West foodservice market. Rather than acting as a generic distributor, the firm utilizes its long-standing heritage to maintain direct supply links with both national and international fresh produce hubs.

Ent. Value

£10–30M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2022
£10–30M
[members only]
£0–5M
2021
£10–30M
[members only]
£0–5M

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REFERENCES

Revenue range: £10–30M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of WESTCOUNTRY FOOD by KITWAVE GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: kitwave group