Springboard Advise Longstanding Client Arden Fine Foods on Tertiary Management Buy Out
May, 2020 - England
Arden Fine Foods, a leading sourcer and supplier of biscuits and bakery products based in Coventry, has been acquired by its management team, led by Managing Director Helen Young and Finance Director Andy Mewis, for an undisclosed sum.
The deal is the second MBO Springboard have advised on at Arden in the last five years. The transaction was completed with funding from Barclays Corporate Team. The current shareholders of Arden retain a significant financial interest in the business. The deal represents an exit for Arden Executive Chairman Gary Barr.
Arden, which has turnover in excess of £20 million, works with food manufacturers globally to develop sweet and savoury biscuits and other seasonal products which are then supplied into the UK multiple retailers and many other channels. Arden provides products across private label; supplier brand and via its own Arden brand.
Commenting on the deal, Helen Young said “My team and I are very pleased to have completed this transaction and look forward to the next phase of development for Arden. Significant opportunity now exists to build on the business’s history and reputation within the industry.”
Arden was advised on the transaction by Partner Simon Ward, Director James Bailey and Executive Tom Hammond
THE CLIENT ON SPRINGBOARD
“Springboard has become a key part of the team at Arden. Their professional and pragmatic approach has guided all stakeholders in Arden through two buy-outs as well supporting us as we have grown and developed our business. We enjoy working with the team and look forward to continuing that relationship into the next chapter for Arden.” - Helen Young, Managing Director, Arden Fine Foods
ABOUT SPRINGBOARD
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• Acquisitions - supporting corporate and management teams – identifying targets and executing deals
• Disposals - Full or partial business sales and exits
• Raising finance - working capital or development capital – typically debt or private equity/venture capital
• Management / Retained advisory - strategic, commercial and financial support
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