Fresh Direct and Bain Capital, the owners of Brakes are delighted to announce a new Company that will bring together three of Bain’s fresh food businesses – M&J Seafood, Pauleys and Wild Harvest – with Fresh Direct.
The new company will be jointly owned by Bain Capital & Nigel Harris. Current Fresh Direct owners, Nigel & Colin Harris will continue to take an active role in the future success of the New Company.
The new Company will create an “all-in-one” fresh food destination for chefs and caterers, for their produce, fish and seafood, meat and exclusive fine dining product requirements.
The New Company and management team will be led by David Burns, the current Managing Director of Fresh Direct, who will become the CEO of the new Company, which will also operate under the Fresh Direct name, with M&J, Pauleys and Wild Harvest also retaining their brand names.
Fresh Direct
Fresh Direct was first established as a family business, when John Harris, Nigel and Colin’s father, established local greengrocer “H&H Fruiterers”, with then-business partner Bill Hawkins, nearly 50 years ago. From its roots as a small shop in Bicester, making deliveries from the back of an Austin 3-tonne lorry, the family business has grown to become the market leader in “Fresh” that it is today.
John Harris “I’m incredibly proud of our family business! We’ve come such a long way since we started out in 1966 and I think that this new venture is exactly the right move for Fresh Direct, our staff and our customers to take us into the next chapter of our story.”
David Burns, Fresh Direct MD, said “When considering this opportunity, we needed to agree that it enhanced and added value to our business plans, giving due consideration to our customer requirements in a rapidly evolving market. I am, therefore, extremely excited at the decision we have arrived at. This opportunity stood out head and shoulders above other possibilities, was good for employees and provided broader opportunities for our customers.”
Fastest growing part of foodservice market
Ken McMeikan, Brakes Group CEO, said, “I am delighted to be entering into this joint venture with Fresh Direct, because of the significant opportunities this will create for customers in what is the fastest growing part of the foodservices market. Bringing together these four businesses, under Fresh Direct’s leadership, will provide something really special in the marketplace.”
Jeff Scherer from Bain Capital said, “Bain Capital is excited to now be associated with two leaders in the UK Food Service Industry – Fresh Direct and Brakes. As we got to know Fresh Direct and their leadership team, we were extremely impressed with the great quality of service Fresh Direct offered customers and the outstanding reputation the Fresh Direct team has across the foodservice market.”
More choice and flexibility for customers
Almost one third of Brakes’ sales currently comes from fresh and chilled food and Brakes wanted an even broader fresh food offer with capability to deliver fresh products six or seven days per week, from dedicated local fresh depots. This new company will have the capability to do this and will give customers the choice of a daily fresh delivery service from a network of regional specialist depots that meets their specific needs.
Joining three of Brakes fresh food businesses into the new company will provide chefs and caterers with an “all-in-one” fresh food destination for their produce, fish, seafood, meat and exclusive fine dining product requirements.