We are delighted to have acted on behalf of Arden Fine Foods.
Arden Fine Foods has been acquired by its management team, led by managing director, Helen Young and finance director Andy Mewis, for an undisclosed sum.
The transaction was completed with funding from Barclays Corporate Team while 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 of in excess of £20m, 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.
“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.”
The deal is the second MBO Springboard Corporate Finance has advised on at Arden in the last five years.
Springboard’s team was led by partner Simon Ward, director James Bailey and executive Tom Hammond, with legal advice by Higgs and Sons for the MBO team and Irwin Mitchell for the vendors.
Tax advice was provided by Claritas. Barclays’ team was led by Neil Barnes of its Birmingham Corporate Centre.
“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.
“We have worked with the business across two buy-outs and are delighted to have developed such a long term relationship.
“The team is exceptionally innovative and we are pleased to have been able to help them on the next stage of their development.
“It is also encouraging to see banks remain supportive of quality businesses and management teams despite uncertain times.”
“Arden have a longstanding relationship with Barclays and have an experienced management team with a proven track record of client and supplier relationship management within the sector and of delivering strong financial performance.
“I’m delighted this latest transaction will help support their future growth strategy and new product innovation.”
Thanks to Insider magazine for their coverage.
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23 October 2020
16 October 2020
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