East End Foods has confirmed it is buying back two cash & carry depots that were part of the sale of the wider business to private equity firm Exponent last year.
The Grocer first revealed that the company’s founders, brothers Jas and Jason Wouhra, were close to securing the deal for the Aston and Smethwick depots last month. Operating as Lioncroft Wholesale, the new business will trade as East End Wholesale Stores.
Exponent will continue to run the food production side of the business as East End Foods and its branded products will continue to be sold in the depots.
The deal is set to complete within the coming months.
“I am extremely excited to lead the cash & carry business to new heights in this next phase of its growth and development,” said East End Wholesale Stores CEO Jason Wouhra.
“I have immense confidence in the performance and opportunities within the wholesale industry and we are looking forward to working with our customers, suppliers and colleagues to grow the business and continue our relationship with the team at East End Foods to supply East End-branded products.”
East End Foods executive chairman Rohit Samani said: “We have a long-standing relationship with Jason and Jas and we look forward to continuing that relationship within the new organisation. The East End cash & carries will continue to stock the East End brand and both companies are fully committed to building our businesses on a mutual basis.
“We congratulate Jason and family, and all our people working in the wholesale cash & carries, and wish them all the best for the future.”