DBC sold to Woodward

Danish Crown has sold its DBC Foodservice to Woodward Foodservice.

Danish Crown has sold its DBC Foodservice business.

The acquisition will create a £500m turnover foodservice group and consolidate Woodward's position as the third largest supplier to the catering industry.

The deal is backed by existing investors Baugur and Talden. Debt finance is provided by Lloyds TSB Commercial Bank and Landbansk. The acquisition is part of Woodward's ongoing expansion strategy following a management buyout led by chief executive Ed Hyslop in August 2005.

Woodward supplies food to restaurants, pubs, hotels and schools across the UK. It has an annual turnover of £200m.

DBC Foodservice has a network of 13 distribution warehouses throughout the UK, employs 800 people and has an annual turnover of £210m. After the sale Danish Crown will continue to deliver a range of meat products to the combines businesses via its UK subsidiary Tulip.