The group’s area of specialty is in marketing, sales, as well as logistics services. It provides these services to the bakery trade, offering assistance to over 450 craft bakers as well as others who supply some products such as deli items, milk, and specialty beer locally.
This craft bakery product supplier has its operation base in Manchester. Enterprise Foods has concluded £30m buyout, a venture spearheaded by Tony Moloney, the current chairman, and Hartington Capital, private equity investor. This group which is renowned for its specialty in supplying marketing, logistics and sales services to the bakery trade supplies to nearly 8,000 delivery points across the United Kingdom on a daily basis.
For the year ended June 2013, the group reported £54.9m sales and £2.9m pre-tax profit. Enterprise Foods currently have 40 people across the UK as their employees and are looking forward to increased growth and investment as it completed the MBO. The buyout is aided by £14m of senior debt provided by Yorkshire Bank. The bank further provided £3.5m to aid working capital as well as the growth that is ongoing.
Jane Harley led the deal with this company. Jane is the director in Yorkshire Bank’s corporate banking team. At investment bank Altium, the Manchester team made up of associate Mark Smith, director Simon Lord, and director Chis Hopewood provided advice to Enterprise Foods shareholders.
According to the chief executive of Enterprise Foods, Mr. Moloney, the moment is really exciting for the group as they partnered with Hattington Capital and have secured the required investment for their 5-year growth strategy with the help of Yorkshire Bank.
Mr.Moloney continued, “There is added value and significance coming from theHattington group to the board of Enterprise Foods since they are well experienced across wide selection of industries but particularly within the United Kingdom food retail industry. The team at Enterprise has accomplished tremendous growth over the past seven years. And, the journey ahead is quite thrilling.”
In his speech, the head of corporate banking at Yorkshire Bank, Owen Malton, said that Enterprise Foods have experienced growth in the recent past years, which in turn has placed the company on the top list of largest businesses of its kind in the industry. The company has operated a customer-focus business approach, which has in turn rewarded it excellently.
Finally, Altium’s Simon Lord added, “Enterprise Foods is a leader in the industry where it belongs, using a special technology business model that has massively aided the company’s exceptional achievements.