Seafood Holdings

Sector

Food Distribution

Deal Type

Development Capital

Investment Date

2006

Exit Date

2010

Seafood Holdings is the UK’s leading privately owned distributor of fresh fish to quality restaurants, hotels, pubs and institutional caterers. It distributes fresh fish caught on a daily basis to 8,000 customers across the UK from its nationwide network of 10 depots and a fleet of 150 vehicles.

In 2006, Risk Capital Partners funded a development capital investment to allow the founder to pursue an acquisition strategy to establish a national distribution capability, in a deal that valued the business at £16 million.

Why we invested:

  • Underlying growth in premium casual dining market
  • Fragmented market presented consolidation opportunity
  • Synergies arising from national distribution capability for perishable product

Outcome

In December 2010 Seafood Holdings was acquired by Bidvest, the South African owner of 3663, the UK food distribution business for £45 million with RCP making a significant capital gain.

“The relationship with Risk is very straightforward and you can always speak to someone who can make a decision instantaneously.”

Toby Baxendale
Founder and CEO