Seafood Holdings Limited has been acquired by Bidvest Group
December 2010 — Bidvest Group, the diversified industrial company, has acquired Seafood Holdings Limited, from Tony Baxendale, founder of the company, and Risk Capital Partners, a private equity firm, for an enterprise value of US$69.25 million.
Seafood Holdings is UK’s leading supplier of fresh fish to the food service sector. Principal activities include the procurement, preparation and distribution of fresh and frozen fish, shellfish and other seafood to hotels, restaurants, pub chains, contract caterers, sports stadiums, schools and government buildings.
Bidvest, based in South Africa, is a diversified industrial company, and is one of the largest global food service distribution companies. Bidvest food service interests include 3663 First for Foodservice, one of the largest distributors in the UK, and Bidvest Logistics, the leading logistics supplier to national UK food service operators and fast food chains. Additionally, Bidvest owns national distributors in Australia, Belgium, greater China, Czech Republic, Dubai, the Netherlands, New Zealand, Poland, Saudi Arabia, Singapore, Slovakia and South Africa.
Our role in the transaction
Oaklins Cavendish, based in the UK, advised Risk Capital Partners and Tony Baxendale, Seafood Holdings’ founder and Chief Executive, on its successful sale to Bidvest Group. The team ran a structured competitive process, which was specifically developed to accommodate a number of international trade purchasers, including acquirors from South America and the Far East. The transaction was concluded with Bidvest within two weeks of agreeing terms. The sale followed a two-year exit planning review conducted by Cavendish. Key to the success of the transaction was the involvement of Oaklins' team in South Africa, which used its strong local network and standing in the South African business community to introduce the target to Bidvest at a senior level.
Talk to the deal team
Lord Leigh of Hurley
Oaklins Cavendish
Related deals
Nymann Kloak- & Miljøservice has been acquired by Serwent Group
Nymann Kloak- & Miljøservice has been acquired by Serwent Group. The acquisition expands Serwent’s footprint in Denmark while broadening its service offering and strengthening capacity across its existing platform. This transaction further supports Serwent’s ambition to become the leading Nordic operator in underground infrastructure maintenance.
Learn moreGeralseg Internacional has divested 80% of Geralseg to Horizon Equity Partners
The shareholders of Geralseg have successfully divested an 80% stake in the company to Horizon Equity Partners. Horizon’s investment will support Geralseg in its next phase of strategic growth, focused on capturing market opportunities driven by rising demand for electronic security solutions, strengthening its technical and service capabilities and consolidating its expansion across Portugal.
Learn moreTA Associates has completed a sell-down of its stake in Eurowag
TA Associates has completed a US$40 million accelerated bookbuild (ABB), selling approximately 4.3% of its shareholding in W.A.G. payment solutions AS (Eurowag) through a secondary offering on the London Stock Exchange. The transaction formed part of the private equity sponsor’s continued partial exit following its investment in Eurowag in 2015. The offering attracted strong demand from international institutional and Czech investors, resulting in a successful placement at US$1.33 per share, a 7.4% discount to the previous close and a 2.2% discount to the one-month volume-weighted average price (VWAP).
Learn more