NFT has new owner as Phoenix bows out

NFT is under new ownership

Chilled food distribution specialist NFT is under new ownership, after private equity firm EmergeVest bought out long-tem backer Phoenix Equity Partners in a deal that values the operator at £60m (inclusive of debt). EmergeVest, set up last year by financier Heath Zarin and headquartered in Hong Kong, has purchased Phoenix’s entire shareholding in NFT Distribution Operations. It ends a relationship begun in 2006, when Phoenix backed David Frankish’s MBO of the primary distributor from Northern Foods. The new deal includes […]