NVM-backed Kitwave buys Teatime Tasties
Kitwave, a wholesaler backed by NVM Private Equity, has acquired Teatime Tasties, a wholesaler of biscuits, cakes, confectionary and soft drinks.
NVM Private Equity originally invested £7.5m in Kitwave, a wholesaler of confectionary, soft drinks, alcohol and tobacco, in 2011. The firm has grown acquisitively following a bolt-on strategy and now reports a £155m turnover, up from around £15m in 2006.
Company
Founded in 2000 and based in Huddersfield, Teatime Tasties is a wholesaler of biscuits, cakes, confectionary and soft drinks. The firm has a cash and carry unit in Manchester, alongside its Huddersfield operations base. Teatime Tasties employs 61 members of staff.
People
Mauro Biagioni is a director at NVM.
Advisers
Company – Muckle, Craig Swinhoe (Corporate finance).
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