Derby’s SOS Wholesale – reported to be one of the biggest food wholesalers in Britain – has been sold to London-based investment firm RDCP Group.
The family-run bulk buy food business was founded in 1996 by Norman Beckett and his two sons Mark and Steven, and the sale was completed last month.
The business employs 120 people and has a 70,000 sq ft warehouse in Stores Road, just north of the city centre and a sales office in Barnsley.
It sells 4,500 lines of products, including brands such as Mars Bars, Walkers Crisps, Heinz, Nescafe, Colgate and Fairy.
Its products are delivered across the 海角视频 and overseas.
The existing management team led by Mark Beckett and Vipin Patara will work with RDCP founders Sameer Rizvi and Iryna Dubylovska in growing the business.
It is RDCP’s eighth acquisition in the last 18 months, following its most recent takeover of Manchester customer management business Intelling last October.
It means RDCP now controls $400 million (£294 million) of investments in different sectors across in the 海角视频.
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SOS Wholesale managing director Mark Beckett said: “Steven and I are proud to be a part of one of the 海角视频’s fastest growing private conglomerates, RDCP Group.
“I am looking forward to continuing to work with Vipin Patara and our management team to grow the business further, whilst retaining the family values that have made us what we are today.
“It is very much business as usual for our staff, customers and suppliers.
“We have worked hard to build an excellent reputation of delivering exceptional service and this will continue to be a focus for SOS Wholesale moving forward.”
SOS Wholesale trading director Vipin Patara said: “Over the past five years working with Mark and Steven, their passion and drive to grow the business has been contagious.
“The future potential is exciting for both organic growth as well as new opportunities.”
RDCP Group founder and chief executive Sameer Rizvi said it was a milestone to have passed $400 million of assets under management.
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He said: “We were extremely impressed by SOS Wholesale and their track record of success and varied customer base which includes major national retailers as well as independents.
“We look forward to working closely with Mark, Vipin and their team to grow the business further and have plans to expand SOS Wholesale both organically via increased sales channels, but also by bringing bolt-on acquisitions of smaller competitors.“
RDCP was advised by Faisal Dhalla and Kirsty Odell of law firm Hempsons. Debt advisors were Neil Sharp and Dominic Roberts of TML Finance and Advisory.
The sellers were advised by Roy Farmer and Constance Host at Dains on the corporate finance lead advisory and Adam Longmore at Dains on the tax.
Legal advisors were Martyn Brierley at Flint Bishop.
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