Bidcorp has completed it’s second acquisition in as many weeks with the purchase Suffolk-based Thomas Ridley Foodservice.
Following the announcement last week of the Harvest Fine Foods deal, Bidcorp has today strengthened its portfolio, with Thomas Ridley also leaving the country Range buying group with immediate effect and now operating under Caterfood.
The independently run foodservice supplier was founded in 1808 and works in sectors including healthcare, education, hospitality, hotels, restaurants and retail.
Andrew Selley, chief executive of Bidcorp UK said: “This is already shaping up to be an incredibly exciting year for us as a business. After being delighted to welcome Harvest Fine Foods into the Bidcorp family earlier this week, it gives me great pleasure to extend that same warm welcome to the team at Thomas Ridley Foodservice.
Read more: Bidcorp acquires Harvest Fine Foods
“As with Harvest, Thomas Ridley will join the Caterfood Buying Group, our growing network of independent businesses which includes Nichol Hughes, Elite Fine Foods, Caterfood, South Lincs Foodservice and Cimandis. These latest two acquisitions now make Caterfood one of the main buying groups serving the foodservice wholesale sector.
Thomas Ridley manging director Justin Godfrey said: “The business has been run by my family for over 200 years so it was important that we joined a company that shares the same customer focussed DNA; making food delivery one less thing to worry about.
“Bidcorp UK’s Caterfood Buying Group has the resource to support Thomas Ridley Foodservice in further improving and developing our offer and service level to our customers whilst keeping those family values.
“The Godfrey Family genuinely feel that The Caterfood Buying Group strategy of allowing Thomas Ridley to operate as an autonomous business, whilst supported by the power and scale of Caterfood; is the best option for all stakeholders. We would like to thank all of our past and present customers, suppliers and especially colleagues for making the business a great success.”
Read more: Bidfood reveals plans for three new depots
Confirming the exit of Thomas Ridley from Country Range, its chief Executive Martin Ward said: “Our Group is extremely close and it’s always a shame when we lose a member, especially one as long standing as Thomas Ridley. We wish Justin and the wider Thomas Ridley team best wishes for the future.”
“Acquisitions are part of business and although it’s not ideal, we take it as a compliment that people are taking note of our member’s values, businesses and success. It means we’re doing something right. The fact that our members become attractive propositions to the takeover merchants comes with the territory. Our job is to continue to support and grow true family-owned, independent businesses,” he added.