Compass Group’s procurement arm Foodbuy has acquired Regency Purchasing Group in a move that it says will drive regional coverage and supplier flexibility across the UK.
Regency Purchasing Group, which is based in Weston-Super-Mare, operates in the hospitality and leisure market with a strong national footprint.
It provides purchasing and operations solutions to over 5,000 sites ranging from independent sites to large groups.
Its services include full operational performance reviews, such as supply chain analysis, kitchen and operational set-up and layouts, equipment suitability, maintenance contracts and operating standards.
Regency Purchasing Group’s senior management team will stay in place with founder Alex Demetriou continuing to lead and develop the business over the coming years.
The business will continue to operate under the Regency Purchasing Group brand.
Karl Atkins, managing director at Foodbuy – which manages £1 billion in spend for its clients – said: “Regency Purchasing Group is a brilliant company with robust supplier and client relationships, evidenced through its strong retention rates.
“It empowers independent and family-owned businesses to compete with national brands and has extensive regional coverage which will mean Foodbuy can continue to offer agility and supplier flexibility through its supply chain models.
“I am excited to explore how Regency Purchasing Group’s self-developed systems can continue to enhance our system offering to suit individual client needs, as well as bringing together our purchasing power to buy and operate smarter for our clients.”
Mr Demetriou, founder of Regency Purchasing Group, said Foodbuy’s values are closely aligned with its own.
“At a time of such volatility in the marketplace, our ability to combine purchasing volumes and drive supply chain efficiencies and savings for our customers has never been more important.
“We very much look forward to continuing to work with our management team and taking the best of what Foodbuy are able to offer and support us with. The creation of this joint partnership, whilst maintaining the Regency way of working, is a very exciting proposition as we go into the New Year.”