The deal, which is understood to have been completed over the weekend, is thought to value the business at between£30 million and£40 million and will net founder Ken Abel a multimillion pound sum.
Abel started his business with£2,000 worth of travellers’ cheques in Catford, south London, by selling potatoes door to door. The company has grown to deliver sales of£28 million and employs about 300 employees.
Abel & Cole, which competes with online grocer Ocado and supermarkets Tesco and Sainsbury’s, now also delivers some meat and mayonnaise.
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