We are delighted to have been given the opportunity to acquire KTC, the UK’s leading supplier of Edible Oils to the food sector. Endless were able to quickly provide the founding family with the solution they were hoping to achieve – a complete exit from the business and to ensure that the future owner was going to build on the market leading platform they have created.
The investment adds another leading British food business to Endless’ existing portfolio, which includes Hovis, Bright Blue Foods, and Yorkshire Premier Meat.
KTC is 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 Wednesbury (West Midlands), the founding Khera family had grown the business from a market stall in the 1970s to a £500m 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 interested parties 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 SO FAR
Following the acquisition, Endless has worked closely with Paresh Maha (CEO) to recruit additional skills and experience into the business to match KTC’s scale and growth ambitions. This has included a new Chief Financial Officer, Chief Operations Officer, IT Director and HR Director.
Alongside their operational experience, Endless has provided new capital to upgrade existing production equipment to drive efficiency and commenced a large commercial capital investment project that will see the business diversify its product offering and take advantage of identified sales growth opportunities.
This capital will also support KTC on an M&A strategy, with the first bolt-on of Cardowan Creameries completed in March 2023.