Springboard Advises on Arden Fine Foods MBO
April, 2015 - England
Arden Fine Foods, a leading supplier of biscuits and bakery products based in Coventry, has been acquired by its management team, led by Managing Director, Gary Barr, for an undisclosed sum in a deal led by Springboard Corporate Finance.
Background
Arden, which has turnover of in excess of £20 million, works with food manufacturers globally to develop continental sweet and savoury biscuits which are then supplied into the UK multiple retailers and many other channels. Arden provides products across private label; supplier brand and increasingly under their fast growing Arden brand.
The transaction was completed with a bespoke debt package from Barclays. The current shareholders of Arden retain a significant interest in the business with current joint MD Jon Barlow becoming Chairman.
Commenting on the deal, Gary Barr 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. We are excited by the opportunities ahead for the sector.”
Arden was advised on the transaction by Springboard Corporate Finance, with a team led by Partner Simon Ward, Assistant Director James Bailey and Executive Jonathan Wright, with legal advice by Lodders for the MBO team and Freeths for the vendors. Barclays team was led by Neil Barnes of its Birmingham Corporate Centre. Tax advice was provided by Iain Wright of Claritas Tax.
Commenting on the deal on behalf of Springboard, Simon Ward said “Arden is a great UK success story. It is a business that over 20 years has shown strong growth and developed an enviable market position working globally. The team is exceptionally innovative and we are pleased to have been able to help them on the next stage of their development.”
The Client on Springboard
"Springboard worked with the MBO team to review strategic and funding options. They devised a range of solutions and worked alongside us at all stages to ensure they were delivered. Springboard delivered balanced advice throughout the process in a professional and good humoured fashion" - Gary Barr – Arden Fine Foods
About Springboard
We are a market leading independent corporate advisory firm focused on providing strategic, commercial and financial advice and support to a range of clients. We focus exclusively on the following services:
• Acquisitions - supporting corporates and management teams – identifying targets and executing transactions
• Disposals - Full or partial business sales and exits
• Raising finance - working capital or development capital – typically debt or private equity/venture capital
• Retained advisory - strategic, commercial and financial support
If you would like a confidential meeting with one of our Partners to explore how we can help you develop your business please get in touch.
T. +44 (0) 845 838 1680 E. [email protected]
