Dains advises on sale of major food wholesale business

Accountants and business advisers Dains has advised on a deal which has seen one of the largest food wholesalers in the UK sold for an undisclosed sum.

SOS Wholesale, which is based in Derby, has been acquired by London-based investment firm RDCP Group.

SOS is a family-run business founded in 1996 by Norman Beckett and his two sons Mark and Steven.

The business is one of the UK’s largest wholesalers of foods and beverages, employing 120 staff from its 70,000 sq ft warehouse and distribution centre in Derby and sales office in Barnsley.

Roy Farmer, corporate finance partner at Dains, said: “Having built a very successful business over the past 20 years, Mark and Steven decided approximately two years ago to create a succession plan in order to facilitate their retirement.

“Their goal was to realise the value that they had created to date and to ensure that the business was left in the hands of a buyer who would continue to further develop the business.

“We worked closely with Mark and Steven to develop their exit plan, and as part of this process spent a considerable amount of time identifying an appropriate purchaser.

“Having received strong interest in the SOS Wholesale business from both trade and financial investors alike, we were attracted to RDCP as a buyer for a number of reasons.

“RDCP’s model of being longer-term investors in businesses, backing strong incumbent management teams and retaining the stability and culture that is embedded within a business made them stand out from the more traditional private equity model, and we quickly realised the benefits of choosing RDCP as the long-term investor in SOS Wholesale.

“I am delighted with the outcome we have achieved for Mark and Steven.

“I am confident that SOS Wholesale, under the ownership of RDCP, will go from strength-to-strength.”