UK - Phoenix acquires NFT Distribution

Phoenix Equity Partners announces that it has reached agreement on the proposed acquisition of the business and assets of NFT Distribution (NFT) from Northern Foods Plc in a ТЃ51.2m management buyout. Contracts have been exchanged and completion is expected to take place in approximately 14 days following employee consultation and the issue of new transport operating licences. The acquisition of NFT is the first by Phoenixт€™s new ТЃ375m fund raised in April 2006.