EQT acquires Classic Fine Foods
EQT Greater China II has taken a 96% stake in Classic Fine Foods Group (CFF), a multinational importer and distributor of fine foods, from London-based Vestey Group Ltd.
Launched in 1999, CFF had been 100% owned by Vestey, a fourth-generation business originally launched in 1897 and still owned by its founding family members. After the share transfer, Vesty will continue to hold a 4% stake in CFF.
Massimo Rossi, the new Chairman of the Board of Directors of CFF and Industrial Advisor of the EQT Industrial Network, publicly said that the company will focus on expanding its product offering while exploring expansion in new markets such as China. In addition to Rossi, Dennis Malamatinas, former CEO of Burger King and current Board Member of EQT IV-owned SSP, and John Lim, ex-CEO of Cold Storage and current Deputy Chairman of Fairprice in Singapore, will join the board of directors. Simon Griffiths from EQT Partners Singapore will also join the board.
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