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National food distributor BFP Wholesale, based in Kent, has been sold by its French owners to a private equity consortium.
The Sevenoaks-headquarted firm, which supples chilled and frozen products to more than 4,000 customers around the country, was sold by Lesaffre to Zimt Holding.
The company had a turnover of £75m last year, selling 50,000 tonnes of food to clients like Krispy Kreme and Greggs.
BFP Wholesale managing director Nick Harris said: “In Zimt Holding we have found a strong partner that is fully aligned with our goals and has the resources to help us drive the next phase of the company’s development.
“Seasoned executives will join the board to support us in our strategy.”
Lesaffre’s general manager of baking Western Europe Marc Casier said: “The sale reflects a strategic choice to focus on our core activity of yeast production and sale and we are very pleased to have found an ambitious buyer for BFP.”
The consortium, led by David Burresi and Sebastian Sipp, combines more than 70 years’ experience in private equity.
Mr Sipp said: “BFP presents an exciting opportunity for accelerated growth in the years ahead.
“By deploying our significant operational and management expertise, we will be working closely with the management team to develop BFP’s purchasing and distribution processes and will invest in its personnel and information systems to enable the firm to take advantage of a fast-changing environment.”
Lesaffre was advised on the deal by consumer advisory firm Leopold Capital Partners and Linklaters.
Zimt Holding was advised by Addleshaw Goddard, with GE Capital providing financing.
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