A new food and beverage procurement company, Foodbuy, was created to revolutionize the way businesses can procure food and beverages for foodservice in the UK.
Created by Compass Group UK & Ireland, following its acquisition of third-party procurement specialists Acquire Services Ltd. in 2015, Foodbuy combines the heritage and expertise of these two leading businesses to offer a unique procurement solution to companies across a range of industries including hospitality, restaurants and hotels, care homes and education establishments.
The scale of Foodbuy’s spend—now nearly £1 billion—can bring significant cost savings to Foodbuy clients. In addition, clients will have access to a rich and diverse range of suppliers and procurement solutions, such as e-commerce, spend analysis and responsible sourcing dashboards offering enhanced transparency.
Oliver Cock, managing director of Foodbuy in the U.K., said: “As well as offering huge cost savings and access to some of the best produce out there, Foodbuy also opens up the market with its flexible approach to procurement. Unlike traditional third-party procurement, Foodbuy clients can now pick and choose the products that they want to source, whilst still having access to the scale of our supply chain.
“Foodbuy is also brilliant news for Compass’ longstanding and trusted supplier partners. Our suppliers will have access to new markets and increased volumes, and as we grow, they grow with us. Foodbuy already has a promising pipeline of opportunities, and I’m really excited about the benefits this new model of procurement will bring to both our clients and supplier partners.”