UK: Brake Brothers completes majority buy of France's Carigel
Brake Bros plc, a leading food supplier to the UK and French catering industries, has announced the acquisition of two more strategically important regional wholesalers in France, for a total estimated consideration of €23m (US$19.8m), including assumed debt. Brake France has acquired Bianchi Gers and PSM/Jarny, which it says completes its programme of purchasing the majority of the members of the Carigel buying and marketing group. In the process it has acquired a further 16% shareholding in Carigel, giving it a 75% controlling shareholding. Carigel is the fourth largest supplier of frozen and chilled foods to caterers in France.
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