The long-established TRS Group, run by members of the Suterwalla family, is on the verge of being sold to Exponent, which specialises in private equity.
A spokesman declared however: “The agreement is provisional. It is conditional on several undisclosed things. There is a chance the deal will not go through.”
Based in Southall, Middlesex, the 60-year-old company operates an ethnic foods business and cash & carry from its main site and a second C&C in Leyton, east London.
The C&Cs were members of Landmark Wholesale for many years before switching to Unitas Wholesale when it was created from the merger of Landmark and Today’s Group.
The five brothers who control the C&C/wholesale concern include Hatim and Farouk Suterwalla, both of whom are in their 80s. It is understood that, with none of the younger family members willing to take on the business responsibilities, the family decided that to sell was the only option.
The company has a turnover of around £110 million.
Tel: TRS Group 020-8843 5400
Published Date: June 26, 2019