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Pin to quick picksKitwave Share News (KITW)

Share Price Information for Kitwave (KITW)

London Stock Exchange
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Share Price: 246.00
Bid: 246.00
Ask: 249.00
Change: -9.00 (-3.53%)
Spread: 3.00 (1.22%)
Open: 255.00
High: 255.00
Low: 246.00
Prev. Close: 255.00
KITW Live PriceLast checked at -

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Kitwave buys fresh-food retailer WestCountry Food for GBP29 million

Mon, 12th Dec 2022 14:27

Kitwave Group PLC - North Shields, England-based food wholesaler - Buys 166 year-old local, regional and imported fresh food retailer WestCountry Food Holdings Ltd for GBP29.0 million. Kitwave says that the acquisition has been funded via current banking facilities and a new three-year revolving credit facility provided by its banking partners. WestCountry reported pretax profit of GBP3.9 million and revenue of GBP29.7 million in 2021. Kitwave CEO Paul Young says: "The acquisition of WestCountry enables us to expand our product range to include high-quality fresh produce and complements our existing foodservice offering in the South West, following the acquisition of MJ Baker earlier in 2022." Kitwave bought Devon-based MJ Baker Foodservice Ltd in February for GBP24.5 million, which it said would be immediately earnings enhancing.

Current stock price: 180.00 pence, up 5.3% on Monday

12-month change: up 33%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

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