Bidvest acquires 100 per cent share capital of UK based Seafood Holdings Ltd

Bidvest, the diversified industrial company, announced that it has acquired 100 per cent of the share capital of Seafood Holdings Limited for an enterprise value of £45 million. The UK based Seafood was started by entrepreneur and CEO, Toby Baxendale, who has grown the business into a leading national fresh fish producer and distributor to the catering and hospitality industry in the United Kingdom.

Seafood includes famous regional brands such as Daily Fish and Southbank Fresh Fish in London, Direct Seafoods in London, Colchester and Scotland, Kingfisher Brixham, Openshaws in Birmingham and Manchester, Neve Fleetwood, and Taylor Foods based in Newcastle. Toby Baxendale is set to retire as CEO on acquisition to pursue his many other interests.

Seafood provides Bidvest with a unique opportunity to acquire a market- leading fresh fish foodservice business with sufficient geographic reach to provide a solid platform for growth, said the firm in a press release. Seafood will be operated and managed independently of 3663, although customer benefits and synergies will be achieved. Bidvest is confident the business with its strong and entrepreneurial management team and dedicated employees has the potential to contribute meaningfully to Group performance over time, said the firm.

Bidvest is a diversified industrial company, listed on the Johannesburg Stock Exchange South Africa, and is one of the largest global foodservice distribution companies. Bidvest foodservice interests include 3663 First for Foodservice, one of the largest foodservice distributors in the UK and Bidvest Logistics, the leading logistics supplier to national UK foodservice operators and fast food chains.

Additionally Bidvest owns national foodservice distributors in Australia, Belgium, greater China, Czech Republic, Dubai, the Netherlands, New Zealand, Poland, Saudi Arabia, Singapore, Slovakia and South Africa.

After years of specializing in meat – Seafood CEO, Toby turned his attention to developing the fish trading side of Seafood. An opportunity presented itself when Lyn Gower, the MD of a Colchester based catering fishmonger, decided to sell her business. Seafood Holdings Ltd was set up to buy this business.

In 2002, Toby acquired a London-based fishmonger, giving the business a strong foothold in the capital among premier London hotels and restaurants. In 2007 and 2008, the growth has continued when Fleetwood's C&G Neve, Newcastle's Taylor Foodsand Brixham's Kingfisher came on board. Additionally, the company has opened a new Direct Seafoods supply depot in Edinburgh.

In late 2009 IT purchased Openshaws, a premier supplier of high quality Fish bringing local fish into local businesses.

27 Dec 2010.