Listed wholesaler Kitwave has acquired Devon-based foodservice supplier MJ Baker Foodservice to grow its presence in the category.
The business will be incorporated into Kitwave’s existing foodservice division which currently has the existing trading operations of HB Clark & Co and David Miller Frozen Foods Limited.
Founded in 1999 and based in Newton Abbott, Devon, MJ Baker offers over 3,500 products in ambient, chilled and frozen foods along with with alcohol, confectionery and non-food items.
These brands are complemented by a range of products under the Bakers Best Buy lines.
Kitwave CEO Paul Young commented: “The acquisition of MJ Baker is an excellent addition to our Foodservice division and expands the Group’s nationwide reach into the South West. MJ Baker is renowned for providing a quality delivered solution to its customers, a key part of the Kitwave Group ethos.
“I am delighted to welcome the M.J. Baker team to Kitwave and we look forward to continuing to build our nationwide foodservice offering as part of our growth strategy.”
Kitwave CFO David Brind added: “This acquisition significantly adds to Kitwave’s Foodservice division and extends the reach of our services into an important region of the UK The integration of MJ Baker into the group’s Foodservice division complements our existing operations and reflects Kitwave’s strategic direction and expansion ambitions, both through acquisition and organic growth.”
Last November AIM-listed Kitwave upgraded its profits expectations as trading recovered to pre-pandemic levels and it escaped the worst of the HGV driver crisis.
Revenues raced past forecasts in the second half of the year ended 31 October, with volumes in most business segments returning to 2019 levels.
As a result, adjusted operating profits are “significantly” ahead of expectations, which had been cautious while awaiting the lifting of Covid restrictions.
It will post its full year results on 28 February.