Bidvest Foodservice acquires Devon catering specialist Caterfood
Market-leading catering industry distributors Bidvest Foodservice has acquired Devon-based Caterfood, in a deal managed by the Major Transactions division of M&A advisor BCMS.
Based in Paignton, Devon, Caterfood has a long heritage in frozen food, catering and distribution. The company provides leading brands and quality products to over 2000 catering industry customers in the South West.
First established in 1970, Caterfood has a powerful regional presence in the South West. The company offers an extensive range of frozen, chilled, ambient and non-food products, and its catalogue includes major brands such as Nescafé, Cadbury’s, Walls and Three Oceans, alongside its own-brand products Quality Cuisine and Yarde Farm. Caterfood is a member of Taste of the West and Food & Drink Devon and buys directly from 125 different companies across the West Country.
Mark Felton, Executive Chairman of Caterfood, comments: “Caterfood will continue to operate as a standalone brand in its entirety. We are now part of the largest foodservice business in the country, and we can all look forward to a continued bright future, especially where product development and range extension is concerned.”
Stephen Bender, CFO of Bidvest Foodservice says: “Caterfood is already a very successful leading foodservice supplier in the South West, with a real passion for service which aligns well with our drive to provide service excellence and make customers’ lives easier.”
Hugh Ashburner, Associate Director of BCMS Major Transactions Group adds: “The foodservice market has seen a number of transactions in the past 12 months, including to overseas acquirers. But this is a market where regional presence, local insight and established customer relationships are absolutely key. Our focus is on finding the best outcomes for our clients, and it was clear that Bidvest Foodservice represented the natural home for the shareholders and all the team at Caterfood.
“BCMS has worked alongside Bidvest Foodservice previously – we negotiated the successful sale of our former client South Lincs Foodservice to the company in 2012. As such we are confident Bidvest offers a strong cultural fit, coupled with an instinctive understanding of Caterfood’s specialist markets.”