20th Nov 2023 14:18
(Alliance News) - Kitwave Group PLC on Monday said that it has bough WLG Holdings Ltd, a Manchester-based composite drinks wholesaler.
The North Shields, England-based food wholesaler bought WLG, which trades as Wilds of Oldham, for an undisclosed price. It did however note that the acquisition had been funded from the group's current facilities.
In the financial year ended September 30, Wilds of Oldham reported turnover of GBP10.2 million. Following the acquisition, it will be incorporated into Kitwave's existing foodservice on-trade business, H.B. Clark & Co Ltd.
"We are delighted to announce the acquisition of Wilds of Oldham, which will assist in the distribution of HB Clark's alcohol and soft drinks products throughout the North West. Wilds of Oldham is a proven, successful business that will make a strong addition to our Foodservice division," said Chief Executive Officer Paul Young.
Kitwave shares were trading 2.3% lower at 248.09 pence each in London on Monday afternoon.
By Holly Beveridge, Alliance News reporter
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