Published: 00:01, 07 December 2017 |
Updated: 09:29, 07 December 2017
A catering company which supplies 8,000 meals a day to 53 schools has been snapped up by a larger rival for an undisclosed sum - allowing its owner to retire.
The Contract Dining Company, based in Headcorn, near Maidstone, will join Alliance in Partnership (AiP), one of the largest education catering specialists in the UK.
The deal allows owner and director Anne Winn to retire, having founded the business in 2004.
Since then it has grown to employ 231 staff and increased annual turnover to £4 million.
Mrs Winn, who has sold all her shares to AiP, will phase out her work with the company over the next school year.
She said: “The name The Contract Dining Company lives on and it is very much business as usual.”
She added she felt “extremely proud and privileged to have served the children of Kent over the past 13 years”.
Its new owner provides over 75,000 meals a day in primary and secondary schools and colleges nationwide.
The combined group will serve over 400 schools and colleges throughout the UK and have combined sales of £33 million.
Managing director Paul Rogers said the takeover will “further strengthen our presence in the South East, giving us a strong foothold in Kent following our recent contract wins in London”.
He said: “There’s also a close cultural fit between the two businesses as we both share a focus on providing fresh, healthy and nutritious meals for schools.”
AiP received a £5.3 million investment from private equity investors Key Capital Partners in April 2014.
Owen Trotter, a partner at Key Capital Partners, joined the AiP board as part of the deal.
He said: “This latest development marks another key milestone in AiP’s continued expansion.
“The business has already seen revenue grow by 120% since 2014 as its commitment to the provision of quality, freshly-cooked and nutritious meals for the education sector has chimed with public concerns.
“As a firmly established leader in the field, the company is well-positioned to extend its offering across the UK.”
Every morning at 10am we play you an hour of tunes from the 90s. We call it, #WeLoveThe90s.
Play 'Say It' with Garry and Laura on kmfm Breakfast and you could win £1,000!
Wake up to kmfm Breakfast with Garry and Laura - it's Kent's alarm call.
Your No1 guide to getting married in Kent. From dresses to discos and venues to veils, we've got everything you could possibly need for your big day
Education, Training & Childcare is a special supplement published by KM Media Group four times a year. Click here for latest e-edition.
A guide for your future. For year 11 students in Kent and Medway. Click here for the e-edition.
Get the latest food and drink news, recipes from some of the nation's top chefs plus updates from Kent's vineyards and breweries.
Search in your local area to find your perfect partner in Kent, with FreshStart Dating!
PLUS, register for free!.
Read our pick of the best holiday destinations. Whether its a weekend break, or something a little bit longer, we have reviewed a wide range of holidays.