Kitwave is a grocery wholesaler which has a strategy of consolidating smaller wholesale businesses. The company has less than 2% market share in UK grocery and foodservice wholesaling, although it is 4% in the frozen food market. Kitwave is the 14th largest UK grocery wholesaler.
There is an experienced management team that understands its markets. Kitwave has a solid track record and moving into areas such as frozen food has improved margins.
The flotation should increase the profile of the group and enable it to make more acquisitions. Most of the borrowings will be paid off.
The s...
