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TFC, established in 1979, is one of the largest importers of Turkish foods in the UK. With 11 locations, it offers a high variety of product lines to wholesalers and retailers across the UK.
Starburger was originally established by Mr Altan Gultekin and Mr Altan Munir in 1983. It started as a wholesaler of food service to the independent catering industry based in North London. The Business opened the second distribution centre in Brighton in 2011. It introduced its online ordering service in April 2018. Today it is one of the leading catering suppliers in the South East of England, with retail of its own branded products, with customers across the UK.
The combined product offering of TFC Holdings and Starburger will allow access to each other’s’ customers providing significant sales synergies. The acquisition will double the size of TFC to 500 staff and £100m combined turnover. It represents another step towards their goal of becoming one of the largest catering providers in the UK.
- Funder – HSBC (Ken Jones, Relationship Director)
- Legal Advisor – Clarkslegal LLP (Stuart Mullins, Partner)
The transaction was managed by Ercan Ucur, CEO of the TFC Group, and Sercan Erkarslan, Managing Director of Tees Limited (part of the TFC Group).
Sercan Erkarslan, Managing Director of Tees Limited (part of the TFC Group) commented:
“Simon and Tiff were excellent in advising us in this, our first major acquisition. They anticipated and dealt with all the issues identified, taking a highly pragmatic yet commercial approach to the deal. It was a pleasure working with Simon and the team on this and we look forward to working with them on future projects.”
Ken Jones, Relationship Director at HSBC noted:
“Simon, Tiff and the KR team demonstrated a clear understanding of the issues on this tricky deal, highlighting and focusing on the key issues but offering practical solutions to get the deal done. The report was concise and commercial and I look forward to working with Simon and the team in the near future.”
Simon Jordan, Kreston Reeves Partner said:
“Both TFC and Starburger are well established and highly successful businesses and the acquisition creating a £100m combined turnover gives it a secure place in the market. It was a pleasure helping Ercan, Sercan and the TFC team on this deal, and despite a number of tricky issues to deal with, the deal gives them the platform to grow across the UK.”
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