Somerset hospitality specialist acquired by market leading business

A firm which offers operating and purchasing support to companies in the hospitality and leisure sector has been acquired by one of the largest businesses in the sector.

Foodbuy has acquired Regency Purchasing Group, based in Weston-Super-Mare.

Regency provides purchasing and operations solutions to over 5,000 companies ranging from small independents to large groups.

The acquisition will allow both businesses to continue to maximise savings, improve quality, and bring innovation to their clients.

Regency Purchasing Group’s Senior Management Team will stay in place with the founder Alex Demetriou continuing to lead and develop the business over the coming years.

The business will also continue to operate under the Regency Purchasing Group brand.

Karl Atkins, managing director of Foodbuy, said: “Regency Purchasing Group is a brilliant company with robust supplier and client relationships, evidenced through its strong retention rates.

“It empowers independent and family-owned businesses to compete with national brands and has extensive regional coverage which will mean Foodbuy can continue to offer agility and supplier flexibility through its supply chain models.

“I am excited to explore how Regency Purchasing Group’s self-developed systems can continue to enhance our system offering to suit individual client needs, as well as bringing together our purchasing power to buy and operate smarter for our clients. I look forward to welcoming Regency Purchasing Group and getting to know the team.”

Alex Demetriou, founder of Regency Purchasing Group added: “We are delighted to be working with the team at Foodbuy, whose values are closely aligned with ours.

“At a time of such volatility in the marketplace, our ability to combine purchasing volumes and drive supply chain efficiencies and savings for our customers has never been more important.

“We very much look forward to continuing to work with our management team and taking the best of what Foodbuy are able to offer and support us with. The creation of this joint partnership, whilst maintaining the Regency way of working, is a very exciting proposition as we go into the New Year.”

Bristol law firm Osborne has advised Foodbuy Europe Limited, part of the publicly listed Compass Group PLC (“Compass”), the world’s largest food and support services business, on the acquisition.

Foodbuy provide expert procurement services to their wide range of foodservice and hospitality clients through outstanding data analysis driven forward by a team of 200 professionals.

Tom Try

The Osborne Clarke team assisting Compass was led by corporate team members partner Tom Try, Senior Associate Josephine Healy and Associate Rachel Barbour.

They were assisted by a large cross-service line team which included partner David Nisbet (Tax), Associate Director Elizabeth Shanahan (Tax), Senior Associate Ben Doeh (Tax), Senior Associate Marie-Claire Day (Commercial), Associate Emily Tombs (Commercial), Associate Alice Clack (Commercial), Associate Ian Solomon (Commercial), Associate Mo Toqeer (Commercial), Senior Associate Natasha Burbidge (Employment), Senior Associate Laura Crang (Employment), Senior Associate Sophie-Jennifer Pyle (Real Estate), Associate Joachim Piotrowski (Competition), Trainee Sophie Myatt (Corporate) and Paralegals Liberty Jones and Phoebe Hart (Corporate).

Compass Group is a long-standing Osborne Clarke client. It advised the group on its acquisitions of food technology start-up Feedr and purchase to pay solutions and supply chain management company e-foods as well as on its joint venture in Peppermint Events.

A Burges Salmon team advising on the deal was led by corporate finance partner Dominic Davis, alongside corporate tax partner Hilary Barclay and corporate finance director, Julie Book.

Dominic Davis said: “It was fantastic being able to support Alex and the RPG business on this milestone transaction. We wish Alex and his management team all the best for the future, and look forward to seeing the RPG business continuing to thrive with Foodbuy.”