Kitwave Group Announces Strategic Acquisition and Capital Raise

Kitwave Group PLC (GB:KITW) has released an update.

Kitwave Group PLC has announced its acquisition of Creed Catering Supplies Limited for an initial cash consideration of £60 million, with additional performance-based payments over two years, financed through increased banking facilities and a capital raise. The company is looking to raise approximately £31.5 million by placing new shares and a separate retail offer, leveraging the expertise of Canaccord Genuity. The acquisition aims to enhance Kitwave’s geographical presence and create a national delivery network, promising significant strategic and financial benefits to the group.

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