Importer And Wholesaler Of Fine Foods For Sale

Business description

The company was established on 1st December 1998. It was split into three separate businesses on 1st April 2009 with the specific intention of selling all of them as going concerns. One of the businesses sold Mediterranean foods and the other specialist gift products, both have been sold. This company distributes vending machines, stands and food vending products to the leisure industry and is looking for a new owner.

The business currently has over 700 customers, 6 suppliers, a warehouse, two delivery vans, a sophisticated computer system, BT telephone system with broadband, a website, e-mail and full office facilities. Turnover will be between £350-500, 000 in this financial year, generating 25% GP. Expenses are minimal.

There are sole UK import and distribution rights for Sandral products from Barcelona, Nibble Time products from Inertvendors in Eindhoven and the business also sells Snackacan products from Bourne, Trident Chewing Gum vending packs from Cadbury’s, Bournville, Clenport Vending Machines from Portugal and Seaga Vending machines from Llandudno. The products are sold in mini-cans which contain a range of savoury and sweet products, which appeal to men, women and children alike as well as vending packs of Trident Splash and Soft chewing gum. The vending machines that sell them are sited in pubs, restaurants, leisure centres, holiday resorts, caravan parks, sports centres, hospitals, betting shops and many other locations. The machines are operated by independent business people who own anywhere between 10 and 1200 machines. Products are also sold to ferry companies, airlines, retailers and hotel chains where they are sold behind bars, in mini-fridges and in other retail outlets.


Currently the business is operated by a full time warehouse and logistics person with a part time salesperson. They could be kept on by agreement or the business could be easily operated by another full time owner or employee.

The sale price would include the customer and supplier bases and agreements, the assignment of the warehouse and van leases, the office equipment which includes fax, franking machine, 4 networked PCs, and web site but the actual stock figure on completion would be an additional cost. There are no liabilities.

There are a number of pallets in storage for four other business concerns and the business currently undertakes a limited number of local deliveries for a neighbouring light engineering firm. These activities bring in additional regular monthly income.

The current owner is looking to retire as soon as possible, hence the reasonable asking price of £115,000 + stock at cost on completion.


Equipment:


This is not a business that requires extensive technology to fulfill its purpose. There is a basic stock control system. Goods are purchased by the pallet load and delivery to the companies distribution centre is the responsibilty of the supplier. This rules out all liability for damage caused in transit. As such all invoices are for the delivered price.


Key Strengths:

The business continues to thrive as the interest in cooking and quality food grows. It is well established with a reputation for supplying quality products not found on supermarket shelves. It also is capable of providing white label and own label services.
The company could be easily relocated.The volume turnover and database would be of interest to some one in the same market place looking to bolt on turnover.


Financial Information:

This is an asset sale; all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. The annual turnover is in the region of £400,000. Stock remains steady at around £40,000. An asset register will be available on request

Property information

Property:

Leasehold

Lease terms:

There is a five year break clause and are presently rent free until August 2009 after which the monthly rental is £2500.

Location:

The warehouse is situated on an industrial estate in South West Bristol, it is 4,500 sq ft, contains pallet racking for 124 pallets. There is a showroom, large centrally heated and air conditioned office, kitchen, with separate gentlemens and ladies cloakrooms and parking for 6 vehicles together with a new fire alarm system and a separate Redcare GSM Intruder Alarm system. There is nine years remaining on the warehouse lease with a break clause in July 2013. The vans are on contract hire with eighteen months to run.

Other information

Expansion potential:

The range of available items could easily be expanded to include produce from other Mediterranean countries.
Presently all sales activity is the responsibility of one individual. A small sales team would have a positive impact on sales volumes.
The business does have a web site that could be modified to include an online shopping cart and would benefit from optimisation.

Support & training:

A full and professional handover will be made available for a period to be agreed as part of the sales process.

Reasons for selling:

The founding director would like to take early retirement.