NVM-backed Kitwave buys Teatime Tasties

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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• Topics
• UK / Ireland
• Consumer
• Portfolio management
• United Kingdom
• NVM Private Equity