Mon, 24 Jul 2017 | BUSINESS SALE
Retail snack specialist Graze is being positioned for a £300 million sale by its private-equity owner.
According to a report in the Sunday Telegraph, the healthy snack firm is being offered for sale by The Carlyle Group, a Washington DC-based asset management outfit.
Carlyle took a majority stake in Graze in 2012, with the company being valued at approximately £50 million at the time. The investment group has some experience of dealing with healthy lifestyle-related companies, having just sold health food retailer Holland & Barrett for £1.8 billion to Russian billionaire Mikhail Fridman’s L1 vehicle.
Since its inception, Carlyle has held stakes in US brands such as Dunkin’ Donuts, Getty Images, Hertz and Kinder Morgan.
The investment group are reported to be encouraged by Graze’s yearly sales growth and the wider consumer trend for healthy eating. Last year, sales grew by 3.2 per cent to hit £70.3 million, though Graze’s pre-tax profits fell by 27 per cent thanks to heavy investment into expansion and a revamp of its website.
A formal sale process has been mooted to take place next year.
There is a trend for healthy snacking companies to be snapped up by larger groups: in 2015, for example, Lotus Bakeries swooped for Natural Balance Foods, the maker of Nakd bars, and Urban Fresh Foods, who make Bear fruit snacks.
Graze was incorporated in 2008 by Graham Bosher, co-founder of movie subscription service LoveFilm, and delivered customers small boxes of nuts, seeds, dried fruit and other snack foods to customers.
Since then, the company has a new boss, Anthony Fletcher, formerly of smoothie maker Innocent. He has overseen the launch of a line of snack products to UK and US retailers, including WHSmith, Sainsbury’s and Boots, and opened an online shop for one-off purchases.
Graze products are stocked in more than 7,500 stores across the US, and 9,000 of the UK’s high street shops.
Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.
LEASEHOLD
Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.
RELOCATABLE
Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.
LEASEHOLD
|
23
|
|
May
|
Fintech company Loot collapses into administration | ADMINISTRATION
After failing to secure further backing from the Royal Bank ...
|
22
|
|
May
|
Spike in M&A activity in the education sector | BUSINESS SALE
In recent months, the education sector in the UK has witness...
|
22
|
|
May
|
Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION
Celebrity chef Jamie Oliver, who shot to fame after campaign...
Sign up to receive our acquisition alert emails to get your FREE guide
|
23
|
|
May
|
Fintech company Loot collapses into administration | ADMINISTRATION
After failing to secure further backing from the Royal Bank ...
|
22
|
|
May
|
Suppliers expected to follow British Steel into insolvency | ADMINISTRATION
News that British Steel is to be placed into the hands of ad...
|
22
|
|
May
|
Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION
Celebrity chef Jamie Oliver, who shot to fame after campaign...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources