Kitwave Wholesale Group has acquired South West foodservice distributor Charles Saunders Foodservice Limited, marking its second acquisition this month as the wholesaler accelerates expansion under new owner One Equity Partners (OEP).
The deal follows Kitwave's acquisition of Fife Creamery, one of Scotland's leading retail and foodservice wholesalers, announced on 17 July.
OEP, a middle-market private equity firm, acquired Kitwave in March, valuing the business at approximately £251 million.
Charles Saunders, one of the largest family-owned foodservice businesses in South West England, will join Kitwave's foodservice division alongside Creed Foodservice, Total Foodservice, WestCountry Food Holdings and Fife Creamery.
Kitwave said there will be no changes to Charles Saunders' depot, operations, sales or head office teams, with the existing leadership team remaining in place. Darren Gaulton has been appointed executive director, while Kim Carwardine will continue as managing director. The business will continue trading under the Charles Saunders brand.
Customers and suppliers will continue working with their existing contacts, with no changes to day-to-day operations. As part of the transaction, Charles Saunders will also become a member of the Country Range Group.
Darren Gaulton, executive director of Charles Saunders, said the acquisition represented the next stage in the company's growth.
“Charles Saunders has built a strong reputation over many years by putting customers first, investing in our people and delivering the high levels of service we're known for,” Gaulton said.
“The business has enjoyed significant growth over recent years while remaining true to the values that have made Charles Saunders what it is today. Becoming part of Kitwave represents the next stage in that journey.
“Our priority has always been to ensure the business is well placed for long-term sustainable growth. This partnership gives us an excellent platform to continue to build, invest further in our people and continue delivering the exceptional service our customers expect.”
Ben Maxted, chief executive of Kitwave Wholesale Group, said the acquisition would further strengthen the group's foodservice operations.
“Charles Saunders is a highly respected foodservice business with an outstanding reputation across the South West, a loyal customer base and an experienced management team,” he said.
“Its customer-focused approach and strong family values make it an excellent fit for the Kitwave Group. The acquisition further strengthens our foodservice division and supports our long-term growth strategy.
“We're delighted to welcome the Charles Saunders team to Kitwave and look forward to supporting the business as it continues to build on its success.”