BFP Wholesale Sold to Private Equity Consortium

Lesaffre announced the sale of 100 per cent of UK food distributor BFP Wholesale Limited (BFP) to private equity consortium Zimt Holding (Zimt). Transaction details were not disclosed.

Headquartered in Sevenoaks, BFP Wholesale is a nationwide, one-stop wholesale supplier of ambient, chilled and frozen food products. The company’s products are distributed via a fleet of multi-temperature vehicles to more than 4,000 customers throughout the UK, including Krispy Kreme and Greggs. BFP has grown consistently over the years and in 2013 sold 50,000 tonnes of food products, generating a turnover of over GBP 75m.

“The sale reflects a strategic choice to focus on our core activity of yeast production & sale and we are very pleased to have found an ambitious buyer for BFP,” according to Lesaffre’s general manager Baking Western Europe, Marc Casier, who conducted the disposal.

The consortium is led by David Burresi and Sebastian Sipp. David Burresi commented: “We are delighted to be partnering with BFP. With a strong management team and a well-established presence in the UK’s multi-billion pound food distribution market, BFP is ideally positioned for growth. We look forward to supporting management in realising the company’s potential.”

Sebastian Sipp added: “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 systemsto enable the firm to take advantage of a fast-changing environment.”

Nick Harris, managing director of BFP Wholesale, 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.”