Kitwave snaps up Teatime Tasties

CAKES and biscuits wholesaler Teatime Tasties has been bought by rival Kitwave.

The majority of the Teatime Tasties business is done through its Huddersfield operation with the company also running a cash and carry unit in Manchester.

It has been bought by Newcastle-based Kitwave which was last year the subject of a £7.5m investment from NVM Private Equity.

Kitwave group managing director Paul Young said: “I have known the Teatime Tasties owners and their business for many years.

“This is a strong performing, well-run company that fits our criteria in terms of operations, geography, products and customer base. We anticipate a smooth and successful integration of the business into the Group.”

Teatime Tasties was established 12 years ago and employs 61 staff. It is the sixth acquisition for Kitwave since it was set up in 1987.

Mauro Biagioni, director of NVM Private Equity, said: “Teatime Tasties is another piece in the jigsaw for Kitwave as it continues to successfully grow through consolidation in a fragmented market. We bought into management’s growth strategy at the time of our investment and Kitwave has stuck to its plan.”

Kitwave was advised on the deal by a team from Muckle.