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...
Deal marks the second bolt-on for the business, following the acquisition of Swiss diagnostic imaging provider IRD
Deal marks the second investment made from the GP's 2016-vintage sixth vehicle, which closed on £660m
Acquisition is the company's first out of two planned for this year with ActoMezz's backing
Total commitments for the fund fell some way short of the vehicle's €350m target and €400m hard-cap