Kite UK to acquire Kitwave Group for £251m.

Kite UK, a company owned by funds managed by OEP Capital Advisers, agreed to acquire Kitwave Group, an independent wholesale business with depots and delivery throughout the UK, for £251m. "We are thrilled to be announcing this recommended cash acquisition of Kitwave, a high-quality national distribution platform within the attractive UK grocery and foodservice wholesale market. Kitwave has established a reputation for excellence in service quality, product availability and customer and supplier relationships, and we are excited to partner with Kitwave and the management team for the next phase of growth," Ori Birnboim, OEP Partner.