Wholesaler Eightacre and residual stock specialist Rowan International have been snapped up for an undisclosed sum by a specially formed buying consortium.
The team comprises Rowan International partners and directors Alan Saywell and Roger Green and former Eightacre founders Alan Littmoden and Paul Tissiman.
Eightacre reported sales of £42m in The Grocer’s Big 30 survey in January. Rowan International is a much smaller player, specialising in health and beauty products.
The companies, merged as the Rowan Group, will be a leading force in European residual product management with sales of £50m.
Both companies specialised in the controlled distribution of surplus stock outside regular channels, with Eightacre focusing on food and drink.