UK food supplier expands across the channel

Related tags United kingdom Catering

Brake Bros, the UK food supplier to the catering industry,
continued its expansion into France on Friday, when it announced
the £17.1m ($24.5m) acquisition...

Brake Bros, the UK food supplier to the catering industry, continued its expansion into France on Friday, when it announced the £17.1m ($24.5m) acquisition of two French food producers, the Financial Times reports. The two new businesses, Szymczak Nadreau and Valette, are both members of Carigel​, the French buying and marketing group that supplies frozen and chilled products to the French catering market. In January Brake announced it had bought three French businesses for £16m and said it would continue to build its presence in France and build a national distribution network in the country. The new acquisitions would allow Brakes to tap into the Fr1.6bn sales that Carigel generates annually. Adding in its earlier acquisitions this year, Brakes​ now has a 54 per cent controlling interest in Carigel, which will be consolidated into its annual results. Discussing the impact of foot-and-mouth on sales and profits the group said that it had been minimal and that any fall in people choosing to eat out in the country had been offset by more people eating out in urban andcoastal areas. Source: Financial Times

Related topics Market Trends