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Bain Capital combines portfolio companies to form Fresh Direct

Bain Capital is combining three of its fresh food portfolio businesses – M&J Seafood, Pauleys and Wild Harvest – to form a new company, Fresh Direct. 

The new company will be jointly owned by Bain Capital & Nigel Harris. Current Fresh Direct owners, Nigel & Colin Harris will continue to take an active role in the future success of the New Company. 

 
The new Company will create an "all-in-one" fresh food destination for chefs and caterers, for their produce, fish and seafood, meat and exclusive fine dining product requirements. 
  
The New Company and management team will be led by David Burns, the current Managing Director of Fresh Direct, who will become the CEO of the new Company, which will also operate under the Fresh Direct name, with M&J, Pauleys and Wild Harvest also retaining their brand names. 
 
David Burns, Fresh Direct MD, says: “When considering this opportunity, we needed to agree that it enhanced and added value to our business plans, giving due consideration to our customer requirements in a rapidly evolving market. I am, therefore, extremely excited at the decision we have arrived at.  This opportunity stood out head and shoulders above other possibilities, was good for employees and provided broader opportunities for our customers.” 
 
Ken McMeikan, Brakes Group CEO, says: "I am delighted to be entering into this joint venture with Fresh Direct, because of the significant opportunities this will create for customers in what is the fastest growing part of the food services market. 
 
Jeff Scherer from Bain Capital. says: “Bain Capital is excited to now be associated with two leaders in the UK Food Service Industry – Fresh Direct and Brakes. As we got to know Fresh Direct and their leadership team, we were extremely impressed with the great quality of service Fresh Direct offered customers and the outstanding reputation the Fresh Direct team has across the foodservice market.” 

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