King is a leading wholesaler and distributor of non-food consumables and disposables (plastic cups, hygiene paper, etc.) to a wide range of industries including healthcare, public institutions, packaging, catering, retail, horeca, etc. The Company has leading market positions in the Netherlands and Belgium.
Our investment thesis consisted in acquiring the leading wholesaler of non-food disposables in the Benelux through a carve-out from Autobar. On a stand-alone basis and together with management, significant upside was identified in the professionalization of the operations (e.g., sales efforts, procurement, logistics, etc.). In addition, King’s simple and stable business model represented a strong platform to consolidate the fragmented Benelux market.