Lesaffre has sold 100 per cent of UK food distributor BFP Wholesale to private equity consortium Zimt Holding.
The transaction details have not been disclosed.
Headquartered in Sevenoaks, BFP is a nationwide, one-stop wholesale supplier of ambient, chilled and frozen food products. The company’s products are distributed from depots via a fleet of multi-temperature vehicles to more than 4,000 customers throughout the UK, including Krispy Kreme and Greggs.
BFP has grown consistently over the years and in 2013 sold 50,000 tonnes of food products, generating a turnover of over GBP75m.
Marc Casier, Lesaffre’s general manager baking Western Europe, conducted the disposal. He says: “The sale reflects a strategic choice to focus on our core activity of yeast production & sale and we are very pleased to have found an ambitious buyer for BFP.”
The consortium, led by David Burresi and Sebastian Sipp, combines more than 70 years of experience in private equity, M&A and senior management.
Burresi says: “We are delighted to be partnering with BFP. With a strong management team and a well-established presence in the UK’s multi-billion pound food distribution market, BFP is ideally positioned for growth. We look forward to supporting management in realising the company’s potential.”
Lesaffre was advised by consumer advisory firm Leopold Capital Partners and Linklaters. Zimt Holding was advised by Addleshaw Goddard, with GE Capital providing financing.
