PRIVATE equity firm Endless has acquired KTC (Edibles), the UK’s largest edible oil supplier founded by entrepreneur Jernail Singh Khera.
The acquisition will provide additional investment for KTC’s growth plans through further development of its operations, range and service offerings, Endless said but did not disclose the size of the deal.
With the investment in KTC, the mid-market private equity investment firm added another British food business to its portfolio which already includes Hovis, Bright Blue Foods and Yorkshire Premier Meat.
Established in 1972, KTC supplies more than 250 million litres of oil annually to manufacturers, retailers and wholesalers across the UK and globally with its four production sites and 450 employees.
Endless acknowledged that the founding family has grown the Wednesbury-headquartered company’s business to more than £400 million in terms of turnover.
KTC CEO Paresh Mehta said the new investment would pave the way for further growth of the company.
“While it is business as usual, we are excited by the opportunities new ownership will bring and we look forward to continuing our rapid growth and development. We would also like to thank the Khera family for building such a strong business and supporting the company and its employees over the last 50 years.”
Aidan Robson, a partner at Endless, said, KTC has demonstrated its importance to the UK food industry at a time of increasing volatility across the global food market.
“We look forward to supporting Paresh and the wider KTC team as we build upon the excellent platform laid down by the founding family,” he said.
