Family owned, independent salad leaf supplier based in Kent, employing around 300 staff.
Operating in a highly competitive sector, with a mixture of robust and profitable contracts alongside lower margin and more difficult supply lines.
Business failing due to heavy investment in plant and machinery followed by the loss of major customer contracts.
Privately owned, Kanes Foods is one of the UK’s leading and most experienced suppliers of fresh produce.
The deal comprised the acquisition of plant and machinery and certain customer contracts from the administrators of Southern Salads.
This ensured continuity of supply of fresh produce to a number of major supermarkets and food service providers during the busy summer season and allowed Kanes to expand its customer base.
Mobilised a team at very short notice to quickly assess the viability of the target’s business, its asset values and the extent of any liabilities to be acquired.
Advised Kanes’ Board and shareholders on the optimal deal structure and timing and presented and negotiated offers on Kanes’ behalf.
Ongoing and live deal updates and advice to the Board as the deal structure changed, ensuring that Kanes achieved the best possible return at the lowest possible cost.
Midlands and Kent, UK
Acquisition / Advisory