Casper buys the King
King UK Limited, a major non-food distributor in the licensed and catering sectors, has been snapped up by Casper Ltd.
The deal backed by Enterprise Finance Europe (EFE) is the second acquisition for the Manchester-based company Casper, which bought Industrial Supplies last year.
King UK was acquired from the Autobar Group in a private sale for an undisclosed amount.
Casper already has a turnover approaching the £100m mark despite being established just over seven months ago.
Christoph Sander, chief executive of Casper, said: “King UK has a rich history and tradition. It has been recognised as the market leader in supplying the licensed trade, catering, hotel and leisure sectors for many years.
“With EFE’s support we are planning to build on this heritage and develop the business further within its key markets by focusing on the delivery of outstanding customer service.”
Peadar O’Reilly, director with EFE in Manchester, said: “Casper’s management team have an impressive track record in non-food distribution throughout Europe and are ideally placed to take King UK forward.
“EFE is delighted to be supporting the Casper management team again and has provided substantial facilities to King in support of their strategic plans for the business.
“We are fully committed to Casper and their subsidiaries and look forward to a long-term partnership with the team.”
Casper’s management team was advised by accountants Royce Peeling Green in Manchester and the London office of law firm Kaye Scholer.
© Crimson Business Ltd. 2007