First Choice Group, the UK supplier of spare parts for the catering industry, has been acquired by PT Holdings LLC, the parent company of Parts Town, the world's largest distributor of OEM parts for the foodservice industry.
Confirmed on 1st March, the takeover gives First Choice access to the largest in-stock inventory of OEM parts in the world. The company says it could also open up new avenues of business in Europe and potential new partnerships with global brands.
Established in 1999 First Choice Group is a one-stop-shop for catering and refrigeration spares. In May the company will be relocating operations to a new multi-million pound state-of-the-art building on Staffordshire's exclusive Kingswood Lakeside site.
Director John Whitehouse said the decision to sell the business was a difficult one but one taken with the future very much in mind to benefit First Choice Group customers and manufacturers.
He said: 'The acquisition of First Choice Group by Parts Town, a $300-million distribution company, takes us to the next level and will enhance the customer experience. It's very exciting. It will grow our business immeasurably and expand our stock and service capabilities to even greater heights. It also opens up the very real possibility of First Choice Group entering new markets, something we've long had the ambition to do.'
First Choice Group will continue to operate under its existing brand with John Whitehouse as managing director and Carl Bate as director of procurement and logistics.
Chicago based Parts Town was established in 1987 as a restaurant equipment parts distribution business designed to support local field service companies with the parts required to support their customers. It is now the dominant industry force, recognised by Inc. Magazine for six consecutive years as being one of the fastest-growing privately held companies in North America. Major chains and leading manufacturers have selected Parts Town as their primary or exclusive parts distribution partner as a result of its absolute commitment to OEM parts, unique technology and superior customer experience.
Chief executive officer at PT Holdings LLC, Steve Snower, said: “This partnership further strengthens PT Holding’s market leadership in genuine OEM parts distribution. John, Carl and the whole First Choice team have built an extraordinary business. We respect and appreciate the integrity with which the business is run.”