One Equity Partners Acquires Kitwave Group

NEW YORK--(BUSINESS WIRE)--One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has acquired Kitwave Group plc (LON:KITW) (“Kitwave” or the “Company”), a wholesale distributor providing food, drinks and other consumables to foodservice and retail customers in the U.K.

Founded in 1987, Kitwave engages in the food and drink wholesale business throughout the U.K. The Company operates through three main product segments: Foodservice, distributing to restaurants, bars, and leisure outlets; Frozen and Chilled, distributing fresh and frozen foods to retail customers; and Ambient, distributing packaged goods, including candy, soft drinks, chips and tobacco to independent convenience stores and grocery chains. The Company has 37 facilities nationwide and operates a fleet of 650 delivery vehicles fulfilling over 6,500 orders per day.

“Kitwave’s operating model is centered on service reliability and local reach across the U.K., making it a compelling platform within the U.K. wholesale distribution market,” said Steve Lunau, Partner at One Equity Partners. “The Company has built a strong track record of completing and integrating acquisitions in a highly fragmented sector, and we believe this experience provides a solid foundation for future M&A‑driven growth. We look forward to partnering with management as the Company enters its next phase of growth.”

“We are pleased to partner with One Equity Partners,” said Ben Maxted, Chief Executive Officer of Kitwave. “Their experience working alongside management teams in distribution‑led businesses, together with a shared approach to long‑term growth, makes them a perfect fit for Kitwave. We believe this partnership supports a clear plan to continue developing our platform, investing in our business, and building on the service we deliver to customers nationwide.”

“In the wholesale distribution sector, service reliability and local reach are critical to serving customers effectively,” said Ori Birnboim, Partner at One Equity Partners. “Kitwave’s national platform, diversified supplier base and experienced management team position the Company well to benefit from continued underlying demand in its end markets and to create long‑term value over the course of our partnership.”

About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 500 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

About Kitwave
Founded in 1987 following the acquisition of a single confectionery wholesale business in North Shields, U.K., Kitwave Group plc is a delivered wholesale business serving the retail, wholesale, and foodservice markets across the U.K. We specialize in delivering a wide impulse product portfolio in several food categories, including ambient, frozen, chilled, fresh foods, butchery, alcohol and tobacco. Our focus is delivering our full range of products to fulfill our customers needs on time and in full. Learn more at www.kitwave.co.uk.