Burges Salmon has advised on the sale of Regency Purchasing Group (RPG) to Foodbuy.
RPG, based in Weston-Super-Mare, operates in the hospitality and leisure market with a strong national footprint, and provides purchasing and operations solutions to over 5,000 sites ranging from independent sites to large groups.
Foodbuy is a leading food procurement organisation based in the UK, bringing together a wide range of foodservice and hospitality clients to buy food, and everything associated with it.
The acquisition of RPG by Foodbuy will allow both businesses to continue to strive to maximise savings, improve quality and identify new ways of bringing innovation to their clients. Alex Demetriou will continue to lead and develop the business which will continue to operate under the Regency Purchasing Group brand.
The Burges Salmon team advising on the deal was led by Corporate Finance partner Dominic Davis, alongside Corporate Tax partner Hilary Barclay and Corporate Finance director, Julie Book.
Dominic Davis comments: “It was fantastic being able to support Alex and the RPG business on this milestone transaction. We wish Alex and his management team all the best for the future, and look forward to seeing the RPG business continuing to thrive with Foodbuy.”
Alex Demetriou, founder and managing director of RPG comments: “Dominic and the team at Burges Salmon were excellent throughout the process. There were complexities to the deal, because of the existing structure and how we plan to operate the business moving forward. The Burges Salmon team dissected every element of the process and ensured that we were protected, but more importantly that the business has the ability to thrive alongside working with the Foodbuy team in the future. I could not recommend Burges Salmon and their team highly enough for their integrity, knowledge and work ethic.”