Devon-based wholesaler and supplier of food and drink to the retail food sector, Ilfracombe Wholesale Grocers (IWG), trading as Ilfracombe Foodservice, has been sold to Savona Provisions Limited, in a deal advised by Monahans and Toller Beattie.
Both companies are members of the Country Range buying group, with Savona Provisions Limited, trading as Savona Fine Foods, mainly operating across Southern England and the Midlands. The acquisition will extend their reach across IWG’s current marketplace of Devon, Cornwall and Somerset, with all 60 staff remaining in place at IWG. The acquirer already has plans for future investment and expansion.
Founded by Mike Watson in 1972, IWG has grown and developed a reputation for excellent customer service and product quality, offering over 4,000 chilled, frozen and fresh products as well as beverages and disposables. Products are available from all the main catering brands as well as the Country Range brand, of which IWG is a founder member, and offers a range of products developed specifically for foodservice use and designed to provide caterers with a value for money option without the need to compromise on taste or quality.
Mike will remain with IWG, working alongside the new owners. He said: “I am delighted to announce the sale of IWG to Savona Fine Foods, a company I have known for many years and who have a great reputation. I’m confident that IWG will continue to go from strength to strength under its new ownership and that the employees will all benefit, a factor that was very important to me when considering the sale.”
Mike was advised in the sale process by Dominic Bourquin and Alison Bradshaw from Monahans’ Corporate Finance Team and Gillian Jones of solicitors, Toller Beattie.
Pictured above: Dominic Bourquin of Monahans