Seafood Holdings Limited has been acquired by Bidvest Group
Bidvest Group, the diversified industrial company, has acquired Seafood Holdings Limited, from Tony Baxendale, founder of the company, and Risk Capital Partners, a private equity firm, for an enterprise value of US$69.25 million.
Seafood Holdings is UK’s leading supplier of fresh fish to the food service sector. Principal activities include the procurement, preparation and distribution of fresh and frozen fish, shellfish and other seafood to hotels, restaurants, pub chains, contract caterers, sports stadiums, schools and government buildings.
Bidvest, based in South Africa, is a diversified industrial company, and is one of the largest global food service distribution companies. Bidvest food service interests include 3663 First for Foodservice, one of the largest distributors in the UK, and Bidvest Logistics, the leading logistics supplier to national UK food service operators and fast food chains. Additionally, Bidvest owns national distributors in Australia, Belgium, greater China, Czech Republic, Dubai, the Netherlands, New Zealand, Poland, Saudi Arabia, Singapore, Slovakia and South Africa.
Oaklins Cavendish, based in the UK, advised Risk Capital Partners and Tony Baxendale, Seafood Holdings’ founder and Chief Executive, on its successful sale to Bidvest Group. The team ran a structured competitive process, which was specifically developed to accommodate a number of international trade purchasers, including acquirors from South America and the Far East. The transaction was concluded with Bidvest within two weeks of agreeing terms. The sale followed a two-year exit planning review conducted by Cavendish. Key to the success of the transaction was the involvement of Oaklins' team in South Africa, which used its strong local network and standing in the South African business community to introduce the target to Bidvest at a senior level.


Talk to the deal team
Lord Leigh of Hurley
Oaklins Cavendish
Related deals
Pesquera Exalmar has acquired Pesquera Centinela
Pesquera Exalmar has acquired Pesquera Centinela from Grupo Romero.
Learn moreManolete Partners plc has completed a successful debt refinancing
Manolete Partners plc has signed a new revolving credit facility (RCF) with its existing provider, HSBC. The new RCF provides Manolete with the same level of facility as the previous arrangement, at US$22.6 million (£17.5 million), but with a reduced margin and lower non-utilization fee. The facility has a term of 3.25 years, with the option to extend for an additional year on the same terms.
Learn moreAmbala Foods Limited has been acquired by Cake Box Holdings plc
Cake Box Holdings plc has acquired the Asian dessert specialist Ambala Foods Limited.
Learn more