Final frontier | 130 year-old acquisition | Contract wins
Our assessment of results and updates here, include news of a big contract win for one company, which strangely failed to bring an upgrade from its broker. Elsewhere, a video game developer reassured with its latest trading update, although the shares remain far adrift of previous highs – is there a recovery story unfolding? Read on here for our forthright assessment of this and other news. (Premium)
KItwave: shares climb on latest acquisition Kitwave Group (AIM: KITW), the delivered wholesale business, has acquired Total Foodservice Solutions Limited, a leading independent food wholesaler in the North of England, for £21.0m. Established over 130 years ago, Total Foodservice delivers wholesale catering supplies of around 4,000 product lines including chilled, frozen and ambient food, non-food and cleaning products. Total Foodservice's depots are located in Clitheroe, Lancashire and Huddersfield, Yorkshire with customers including licensed trade and restaurants, coffee shops and sandwich bars, schools and universities and the care industry across the North of England. Total Foodservice reported an audited turnover of…