Kitwave acquires Creed Foodservice
In a bid to achieve its growth plans, Creed Foodservice has agreed to be acquired by Kitwave Wholesale Group
Creed Foodservice will take on the principal role within Kitwave’s Foodservice division, which includes the trading operations of David Miller Frozen Foods, Total Foodservice, M.J. Baker Foodservice and Westcountry Food Holdings.
This will increase Kitwave’s foodservice division to 10 depots (16 including the on-trade business with 10,700 customers across education, healthcare, leisure, hospitality, business and industry and out-of-home sectors with annual revenues approaching £275 million.
There will be no changes to the Creed depot, operational, sales, head office teams, management team and Board. Chris Creed will remain CEO of Creed Foodservice with Philip de Ternant continuing as chairman, who will be responsible for the strategic overview and integration into the foodservice division. Miles Roberts will continue as managing director, running the day-to-day business with his current directors. Philip Creed, and other family members involved in the business, will continue to support the company’s sustainability initiatives.
“We have been evaluating our plans to take our business to the next stage for some time now and are delighted to be able to share our growth plans,” said Chris Creed, CEO.
“Our objectives have always been to keep the Creed name, remain a member of the Country Range Group, secure the right investment and strengthen our infrastructure and capacity to secure our long-term growth; and I’m pleased to say that all these goals have been achieved.
“Creed’s ethos and business approach remain at the heart of our operations. Creed has thrived on family values for over 50 years and our people, culture and values remain woven into the fabric of our extended business. This move strengthens our position within the market, offering the best possible outcome for our business, people and customers.”
Ben Maxted, CEO, Kitwave Wholesale Group, said: “Creed has an exceptional heritage and is one of the UK’s leading foodservice wholesalers, so we are delighted to have reached this agreement, which will extend our Foodservice division. Strategically, Creed will significantly expand our geographical presence, bridging our operations in the North and South and creating a fully integrated national delivery network. We are looking forward to working with Creed’s dedicated and experienced team and excited to see our Foodservice division continue to go from strength to strength.”
Founded in 1987, Kitwave’s growth to date has been achieved both organically and through a strategy of acquiring predominantly family-owned, complementary businesses in the fragmented UK grocery and foodservice wholesale market.
Originally founded in 1972, Creed Foodservice specialises in providing a comprehensive range of products and services to caterers and chefs across the UK, including grocery, frozen, chilled, Creed Fresh Produce, Creed Family Butchers, beverages, alcohol and non-food categories.
acquisition Ben Maxted Chris Creed Country Range Group Creed Foodservice Kitwave Wholesale Group Miles Roberts Philip de Ternant
