The acquisition will create 'innovative' one stop software and services for menu planning, food safety and purchasing for the contract catering and foodservice sectors. The two businesses combined serve hundreds of organisations’ catering needs including care homes, schools and hospitals.
Paul Mizen, chief executive of The EF Group, said: “Profit pressures, food safety compliance, allergen awareness and the threat of supply disruption from Brexit are putting all types of caterer and their ability to deliver a quality and value service to their customers under pressure.
“The sector is increasingly in need of integrated software solutions, to help reduce costs and risk while ensuring customer satisfaction and availability of ingredients. Our ambition through this acquisition is to meet all of these needs so caterers of all types can focus on what they are great at.”
The EF Group, which trades in e-foods, plans to expand its software platform to offer fully integrated menu planning, allergen compliance and supply for all types of catering.
Development has already started on the new version of the Catercost cloud-based menu, which is scheduled for launch in early 2020. Catercost clients will now be able to buy from over 600 approved suppliers, with just one invoice to pay.
Mizen, added: “This is a very exciting time for both Catercost’s and EF Group’s clients as we have ambitious plans to create additional value for them by introducing significant improvements to Catercost’s technology and services.
“We’re committed to ensuring all clients are well supported and have instant access to a range of services, from tailored solutions to one digital platform that delivers everything from full menu planning to supplier payment processing.”
The EF Group delivers cloud-based services to catering businesses across the UK, managing over £80 million spend per annum.