Northamptonshire-based Whitworths Food Group is set to acquire Wednesbury-headquartered KTC Edibles Group from Endless LLP.
KTC is a vertically integrated edible oils and fats platform with an important role in the UK food industry supplying over 370,000 tonnes of oils and fats across all major food channels. The group has sales of over £500 million and employs 450 people across its five manufacturing and distribution sites in the UK and Ireland.
Endless acquired KTC in May 2022 and has invested heavily in the business over the last three years. Working alongside incumbent CEO, Paresh Mehta, turnover has grown by over £150 million and profitability has more than doubled.
This growth has been achieved via the successful introduction of a new management team to support Paresh, significant capital investment across the manufacturing sites together with the successful acquisitions of Cardowan, a Scottish specialist margarine manufacturer, and Trilby, an Irish bulk distributor of edible oils.
Originally founded in 1886, Whitworths is the UK’s leading flour milling business. The George family have owned the business since the 1930s and have grown it to over £600 million revenue. The business has ten mills across the UK and supplies almost exclusively into food manufacturing.
Paresh Mehta, CEO of KTC, said: “I would first like to thank Endless for the support they have given the business over the last three years. Our partnership has shown what can be achieved with the right backer and when all key stakeholders are strategically aligned.
“Whitworths Food Group represent the next exciting evolution in KTC history. Their shared knowledge of developing a market leading enterprise for all stakeholders will be hugely beneficial for KTC.
“It is also an exciting development for our customers given the product offering of the combined business. I look forward to continuing the growth of the KTC brand and product offering with the support of our new owners.”
Michael George, Director at Whitworths, said: “Whitworths are pleased to welcome KTC into our family of food companies. We have been impressed by the progress of the business over recent years, and look forward to working with Paresh Mehta and his talented management team to continue to progress and grow the business.
“The transaction is a great fit strategically and will deliver significant further growth potential for all stakeholders.”
Aidan Robson, Managing Partner of Endless LLP, said: “We are very proud of what we have achieved with KTC over the last three years and have thoroughly enjoyed working with Paresh and the KTC team.
“Through everyone’s hard work, we leave KTC in an excellent position as the premier supplier of edible oils and fats in the UK with substantial headroom for further growth. Whitworths represent a fantastic long-term owner for the business.
“The combination of both businesses will create a strong platform supplying two important ingredients to the UK food sector. We wish the whole KTC team all the very best for the future.”
Endless LLP and KTC were advised by Spayne Lindsay (Corporate Finance), Walker Morris (Legal), Park Place (Management) and PWC (Financial, Commercial and Tax). Whitworths were advised by EY (Financial), DLA Piper (Legal), and RSM (Debt Advisory and Tax).
