NFT, a chilled food distribution group backed by Hong Kong-based private equity firm EmergeVest, has acquired competitor NR Evans.
The transaction valued NR Evans at over £20m (€23.84m). Investec Growth and Acquisiton Finance provided integrated debt funding of up to £13m for the investment.
The deal represents EmergeVest's third acquisition in the UK logistics market during the last 12 months.
Following the bolt-on acquisition, NFT has a turnover of more than £200m and over 3,000 employees.