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**Investment Update**
Company Sales
Brambles Food Group Ltd was sold to Adelie Holdings (to compliment Food Partners) in a deal worth £22m in 2007, representing an attractive earnings multiple.
The Company is a leading supplier of sandwich and snack foods, mainly to the food service sector and was headed by Michael Cole as Chairman and Howard Farquhar as CEO.
Brambles was purchased in 2003 as an MBI deal supported by NBGI Private Equity. The business grew its sales by around 3 times and substantially increased profitability. It acquired a bolt-on business to increase capacity with a London production site to coordinate with the original Middlesbrough site.
Company Purchases/Investments
** Latest **
November 2009
Michael Cole has led the acquisition in an MBI of Pasta King (UK) Ltd, a provider of pasta based meals to schools and other food service sectors backed by NBGI Private Equity and debt finance by HSBC Leveraged Finance (South West).
Michael Cole will act as Chairman and is joined by Howard Farquhar as Chief Executive.
This profitable business has grown significantly over the past four years and the new owners believe that growth and development opportunities are exciting in this convenience and healthy food-on-the move sector.
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Brands of Distinction Ltd and Petty, Wood Ltd was acquired by an MBI structured purchase in July 2007 by a management team headed by Michael Cole, Chairman and Mike Hogg, CEO and supported by Five Corporate Finance.
The Company is a leading distributor and Brand Marketeer of food and related products and owners of the EPICURE brand. It’s current turnover is approximately £40m per annum and it employs 160 staff with distribution capability across the UK, Ireland and Europe.
Growth potential and brand developments are rated highly and the Company has an excellent, well balanced portfolio of principals and a focused and motivated work team.
The Company has announced the acquisition of Food Sales Ltd with offices in Perth, Scotland and Uttoxeter, Staffordshire which has added additional major brands and new distribution channels and sectors to its portfolio. The acquisition was completed on Friday 8 May 2009 in an all share purchase. The sales value controlled by Food Sales is approximately £34.5m per annum. All staff will be taken on and it is noted that this acquisition forms part of the longer term strategic development plans for Brands of Distinction Group.
Burnt Sugar has a range of high quality and mainly Fair Trade compliant products in delicious confectionary, including Crumbly Fudge, Honeycomb, Chocolate and Toffee products. The company has won The Grocer's Best Confectionary Award 2008.
Investment has been made to acquire equity and provide funding for marketing and brand development support to extend distribution and consumer awareness. Petty Wood has been appointed as its marketing and distribution agent for all sectors and geographical coverage and a new marketing campaign is to commence in Autumn 2008 and early 2009. The products are available in selected independent trade stores and multiple retailers including Morrisons and Tesco who have extended the listings to over 400 stores.
Since the investment changes to the shareholding has taken place in April 2009 for Brands of Distinction Ltd to acquire a controlling interest which will provide a close working relationship between Burnt Sugar and Petty Wood, its operating agents. Mike Cole remains as Chairman and Colin Cather takes up the role of Managing Director. Justine Cather, one of the joint founders with Colin, remains as a Director and responsible for product development and overseeing the relaunch planned for later in 2009.
Contact Burnt Sugar on Tel: 00 44 (0) 844
800 4064 | Email:
sweetest@burntsugar.co.uk
Mail: Wheatley Business Centre, Old London Rd, Wheatley, Oxon, OX33 1XW
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