Mon, 20 Nov 2023 | BUSINESS SALE
Wholesaler Kitwave has acquired drinks distributor WLG (Holdings) Limited as part of its ongoing efforts to snap up UK wholesalers. WLG (Holdings) Limited, which trades as Wilds of Oldham, is a North West-based distributor supplying both on- and off-trade establishments.
The firm has been operating for more than 25 years, has a 35-strong workforce and a fleet of 11 vehicles, which it uses for deliveries within a 50-mile radius of its Oldham, Greater Manchester warehouse. In the year to September 30 2022, the company reported turnover of £10.2 million.
Following the acquisition, the family-owned business will be incorporated into H.B. Clark & Co. (Successors) Limited, Kitwave’s existing foodservice on-trade business, where it will assist in the distribution of H.B. Clark’s drink products in the North West.
Kitwave said that the deal, which was completed for an undisclosed sum, was funded entirely in cash through the company’s existing banking facilities. The buyer described the acquisition as a significant addition to its wholesale business.
Paul Young Chief Executive of Kitwave said: "We are delighted to announce the acquisition of Wilds of Oldham, which will assist in the distribution of HB Clark's alcohol and soft drinks products throughout the North West. Wilds of Oldham is a proven, successful business that will make a strong addition to our foodservice division.”
Regarding the company’s ongoing M&A plans, Paul Young added: "At Kitwave, we remain focussed on capitalising on the fragmented UK wholesale market and will continue to identify the best opportunities to deliver the most value for our stakeholders.”
"We are looking forward to working closely with the Wilds of Oldham team and integrating the business into the group's foodservice division."
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