Key West Holdings has today sold a majority stake in Nisbets to Bunzl plc. The deal values Nisbets at an equity value in excess of £500 million.
A spokesperson for Key West Holdings said: "Key West Holdings has sold a majority stake in Nisbets to Bunzl plc at an equity value in excess of £500 million. The deal is subject to customary regulatory approval.
"Bunzl plc is a leading British multinational distributor and shares Key West Holdings' passion for the food-service industry.
"Key West Holdings has been the majority owner of Nisbets for many years and, in that time, Nisbets has grown it into one of the largest multinational distributors of foodservice equipment and supplies in the UK & Ireland, Northern Europe, and Australasia.
"Key West Holdings now looks forward to supporting Nisbets as a minority investor as it enters its next phase of growth.
"Key West Holdings holds the business interests of the Nisbet family."
