THE OPPORTUNITY
At the time of our acquisition in May 2022, KTC was one of the UK’s largest edible oil suppliers, distributing over 275,000 tonnes a year to manufacturers, retailers, and wholesalers across the UK and globally. Headquartered in the West Midlands, the founding Khera family had grown the business from a market stall in the 1970s to a £450m revenue business, with four production sites across the UK and over 450 employees.
Nearly 50 years later, having navigated the business through the significant impact of Covid-19, the family decided that the time was right to sell. An initial trade process had failed, with potential acquirers only interested in certain parts of the business. Recognising KTC’s leading market position, strong profitability and scope for operational improvement, Endless saw potential in the whole business where others did not.
THE IMPACT
Following the acquisition, we worked closely with Paresh Mehta (CEO) to recruit the new Executive Board, as well as their direct reports, to match KTC’s scale and growth ambitions. Governance, processes and Management Information were transformed to enhance decision making, drive operational improvement, enable the removal of unprofitable SKUs and release significant levels of working capital. We also supported the business with an operational investment programme and two bolt-on acquisitions, Cardowan Creameries and Trilby Trading, to enhance KTC’s product offering and geographical reach.
THE EXIT
By early 2025, KTC had grown to approximately £600 million revenue whilst distributing close to 400,000 tonnes annually. This growth in revenue, alongside the operational transformation of the business, had led to EBITDA almost tripling under our ownership. We successfully exited KTC in April 2025 to Whitworths Holdings.
