Dart Group has sold Fowler Welch to Culina Group for £98m.
The sale of the Lincolnshire-based chilled and ambient food logistics company sees further consolidation in the sector.
Fowler Welch, which offers supply-chain services to retailers, processors, growers and importers across the UK and Ireland, also has a 50% share in a joint venture fruit ripening and packing business, Integrated Service Solutions, located at its Teynham facility.
The sale comes as Dart Group, which owns Jet2.com and Jet2 Holidays, continues to struggle with the impact of the Covid-19 pandemic on the travel industry.
Announcing the sale, Dart Group said the deal will allow the group to focus on its long-term strategy of growing its leisure and travel business.
It added that the sale “importantly enables Fowler Welch to continue to flourish and grow profitably under new ownership".