Jestic Foodservice Equipment has been sold to Universal Industries International, a company controlled by the founding shareholders of Universal Industries Corporation, based in South Africa.
Universal Industries has several foodservice businesses including distributors and manufacturers and is one of South Africa’s leading kitchen equipment suppliers.
Speaking of the acquisition, new MD of Jestic (formerly general manager), Ben Dale enthused: “This is a very exciting next stage in the growth of Jestic Foodservice Equipment and one which is extremely positive for our current customer base.
“Universal has shared with all the directors its vision for growth and I am delighted that Jestic will provide the perfect platform from which to do this.
“It is extremely important to stress that the existing management team and board of directors including Steve Morris, Michael Eyre, Neill Pearson and myself will be continuing with the business and therefore, for both our current customers and suppliers, this is very much business as usual.”
Dale will report into new Jestic chairman, Wayne Brett. Brett is based full time in the UK and believes Jestic provides the perfect entry point to the European market: “Universal Industries and Jestic Foodservice Equipment have many synergies in common, not least the fact that each are leaders within their field in their respective territories.
“The Jestic portfolio of brands and customers is extremely impressive and I look forward to getting to know each and everyone in the coming months.”
As part of the agreement, Jestic founder and previous majority shareholder, Martin Beesley, will continue in his current role as non-executive director of strategic development in order to provide ongoing support to the management team and shareholders.
The Jestic portfolio includes equipment from brands including Josper, Wood Stone, Sveba Dahlen, Edge, Alfa Pro, Somerset and Vitamix.