Listing Number 26860
Type of Business: 20 Food & Kindred Products Manufacturing
Location: National / IL
This highly profitable and fast growing Food Contract Manufacturing Wet Plant specializing in dressings, sauces and condiments is an ideal target for larger strategic /synergistic buyers seeking product line extension and profitable growth as well as equity groups that have existing resources and expertise to assist the company in achieving its aggressive growth objectives in the next 3-5 years. This firm currently has over 65 employees and two SQF level 3 facilities. The operation produces wet goods both acidified and cold emulsified products in totes, drums, pails, bottles, pouches and 1-3 oz containers for mid sized to large national accounts with approximately 3/4ths of their business in truckload quantities. Top customers account for less than 10-15% of business. Their R&D team is very experienced and has a vast and ever growing catalog of formulations that are owned by the company, ensuring long standing sticky revenue with satisfied customers that are happy to share their experiences with others. The customer base is a diverse mix of bulk/industrial, Food Service, Retail and portion control accounts. Based on current demand and previous growth history, the company expects to grow to $60-$75 million in next 2-3 years, and up to $200 million in the next 4-5 years. This would entail seeking additional 25k SF of local storage space, and ultimately a facility on both coasts. The locations are currently running at about 35% of capacity. Revenues have grown from $11million since 2018, and in an aggressive trajectory for future years. The owner's are seeking a liquidity event/partial retirement and an appropriate growth partner.
Furniture, Fixtures, & Equipment:$ 2,200,000 Asking Price:$ TBD
Vehicles and/or rolling stock:$ Down Payment:$ TBD
Inventory$ 3,000,000
Accounts Receivable (if included)$ 2,932,705 Annual Sales Volume$ 32,050,842
Land & Building (if included)$ Cash Flow$ 4,006,355
Other Assets$
Current Liabilities to be assumed$
Current Notes to be assumed$
Contact Karl Grasemann at The Grasemann Group, Ltd.
Phone: (630) 736-4704
karl@grasemanngroup.com
karlgra@earthlink.net
http://www.grasemanngroup.com