The Kitwave Wholesale Group has acquired Scotland-based Fife Creamery as part of its long-term strategy to establish operations north of the border.
There will be no changes to Fife Creamery’s depot, operations, sales or head office teams, and the existing leadership structure remains in place with Steve Appolinari remaining as managing director. The business will continue to trade under the Fife Creamery brand.
Customers and suppliers will continue working with the same teams and contacts, with no change to the way the business operates day-to-day. Furthermore, as part of the acquisition, Fife Creamery will also become a member of the Country Range Group.
Graeme Simpson, chairman of Fife Creamery, said: “Our objectives have always been to protect the established Fife Creamery name, remain a vital partner for Scottish retail and hospitality, secure the right investment for our Kirkcaldy infrastructure, and ensure sustainable long-term growth. I am extremely pleased to say that all these goals have been achieved.
“Fife Creamery’s core ethos and pioneering approach to first-class food distribution will continue to guide the business as we enter this exciting new chapter. For seven decades, our success has been built on the foundation of the Simpson family’s values and our proud Scottish heritage. Alongside these principles, our passionate team – our ‘food wholesale heroes’ – our culture and our commitment to exceptional service will remain central to everything we do.
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“This partnership gives us the investment, scale and support to build on that success while remaining true to the values that have made Fife Creamery what it is today. Most importantly, it ensures Fife Creamery can continue to invest in its people, its customers and the communities it has proudly served for generations.”
Ben Maxted, chief executive at Kitwave Wholesale Group, added: “Fife Creamery has established itself as one of Scotland’s most respected food wholesalers, with a strong market position, an experienced leadership team and a customer-focused approach that aligns closely with our own values. This acquisition strengthens our presence in Scotland and represents an important step in our long-term growth strategy. We look forward to working closely with the team in Kirkcaldy and investing in the business as it continues to build on its success.”
Earlier this year, shareholders of the Kitwave Group approved a deal of 295p per share for the acquisition by US private equity firm OEP Capital Advisers. The deal, which equates to £250m, will see the group and its depots become private again after becoming a public company 2021.
