Acquisition of WLG (Holdings) Limited

Kitwave Group plc is pleased to announce that the Group has acquired the entire issued share capital of WLG (Holdings) Limited, which trades as Wilds of Oldham (“Wilds of Oldham”), a composite drinks wholesaler (the “Acquisition”). The total gross consideration for the Acquisition, payable in cash, has been funded from the Group’s current banking facilities.

Established for over 25 years, Wilds of Oldham is a composite, family-run drinks wholesaler supplying the on-and-off trade. Based in Oldham, Manchester, the company has a history of helping businesses achieve the best in licensed trade supplies. Currently, there are 35 members of staff, with 11 fleet vehicles that deliver to customers within a 50-mile radius of its warehouse in Oldham. In the financial year ended 30 September 2022, the business had a turnover of £10.2 million.

The Acquisition will be incorporated into Kitwave’s existing Foodservice on-trade business H.B. Clark & Co. (Successors) Limited (“HB Clark”).

Commenting on the Acquisition Paul Young, Chief Executive Officer of Kitwave, said:

“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.

At Kitwave, we remain focussed on capitalising on the fragmented UK wholesale market and will continue to identify the best opportunities to deliver the most value for our stakeholders.

We are looking forward to working closely with the Wilds of Oldham team and integrating the business into the Group’s Foodservice division.”