The chilled food & drink distribution experts | www.nft.co.uk
NFT is the UK market leader in chilled food logistics, ensuring time-critical products from over 350 manufacturers reach retailers’ shelves throughout the country. Phoenix backed David Frankish, NFT’s Chief Executive, in a complex carve out from Northern Foods plc in 2006.
During Phoenix’s investment period, the operational capacity of the business was expanded, supporting 13% annual profit growth over six years. There was a focus on using technology (warehouse management and telematics systems) to drive greater operational efficiency. Investing in physical infrastructure (warehouses and a vehicle fleet) was also prioritised, to ensure capacity to support organic growth. Additionally, a complementary asset light freight brokerage service, NFX, was developed and a larger, highly experienced management team was put in place. In April 2014, with profit having doubled since the MBO, the business was sold to EmergeVest for over £60 million.
“Phoenix is a strong business partner and delivers on its promises. They know their stuff and their advice and support proved invaluable for me as we jointly created the environment that underpinned NFT’s success.”
David Frankish, CEO NFT Distribution