THE BRIEF
In August 2015, Quadrant announced it has merged the operations of Melbourne-based Superior Food Services and Sydney-headquartered NFD Food Services to create a national group that will service several thousand customers across the hospitality, aged care and health sectors. The combined Superior and NFD business is the 3rd largest food services distribution business in Australia behind Bidvest and PFD Foodservices.
OUR APPROACH
Quadrant was attracted to Superior/NFD due its strong market position, diversified customer base, defensiveness of the sector, attractive customer trends and significant growth opportunities.
Our investment thesis is focussed on driving organic growth in the existing customer footprint, acquisitions in a highly fragmented market, operational and efficiency improvements and investment in management and systems.
So far, Quadrant has achieved a number of strategic and operational improvements including
- Successful integration of NFD into Superior
- A number of contract wins in the aged care, hospitality and food sectors
- Acquisition of a number of small bolt-on targets
- Investment in a management capabilities including CFO and operations