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Plant Based Soup Brand

London, England

  • Price: Offers Invited
  • Annual Turnover: £800,000
  • Annual Gross Profit: £32,000
Seller Reference: AF186-Plant Based Soup Brand
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Business Description
Seller Reference: AF186-Plant Based Soup Brand
Request Details
Business Description
Asking price: Offers invited

Business highlights include:

Turnover: c. £800,000 per annum (2020 accounts)
Gross profit: c. £260,000
Net assets: c. £32,000
Reliable supply relationships

Excellent margins
Vegan & Allergen Free recipes
All intellectual Property Rights
Major retailer relationships
Reliable management team
Significant growth opportunity

Business Profile

This Soup Brand is well established in high street retailers such as Waitrose, Ocado, Whole Foods Market and Planet Organic and is also represented in smaller, independent shops and delicatessens, with tenure in excess of 5 years. Sales are also made through distributors & commercial partners and sales direct to consumer via the company’s website is growing all the time.

The business was founded by the vendors following a desire to create interesting and tasty plant based soups for the family home. The results of these developments led to increased popularity among friends & family and so some time afterwards the home prepared soups were developed as a marketable consumer product.

The brand and the company has been through the difficult start-up period, has consolidated its reputation among retailers and earned its position on the shelves among the more famous brands. As the company was achieving its target milestones, recent market volatility has caused the vendors to consider their resource availability in regard to continued growth and have taken the decision to sell a controlling stake in the company.

The company is expecting significant growth in all parts of its activities, from new product development to sales of existing product lines and the time is believed to be right for the transfer of the company and its brand to a new owner or investor with the resources and facility to manage this next, more formal stage of business growth.

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*When demand for “clean label” first burst on the scene several years ago, it was all about removing “chemical-sounding,” “unnatural” and unnecessary ingredients from products, but as shoppers learn more about food, how it is made and its impact on their health, their expectations for what they consume have become more nuanced, and so, too, has industry’s approach to “clean label.”

In a recent “Future of Food” white paper it is reported that consumers no longer have the same reaction to long lists of unfamiliar ingredients as they did many years ago and are now more willing to consider a food product’s nutritional and functional benefits. The trade-off is that they are also looking more closely at product claims, certifications, the nutritional benefits of ingredients and their environmental impact when determining whether a food product is “clean”.

*Ref: https://www.foodnavigator-usa.com/Article/2020/02/14/Soup-To-Nuts-Podcast-Consumers-definition-of-clean-label-is-becoming-more-sophisticated-complex?utm_source=copyright&utm_medium=OnSite&utm_campaign=copyright

This of course represents a huge opportunity for this company being as it is, a part of a more general trend for health based and plant based, clean foods whose claims can be verified and trusted.

The company’s award-winning soups and meals are all vegan and free from the 14 main allergens. They are healthy and nutritious. They don’t rely on the latest fads or trends but are based on the science of nutrition combined with the passion and art of really great recipes and cooking!

Current Opportunities

This is a nascent brand with a demonstrative opportunity for growth and development in the UK and international markets, and a new owner with the management and financial resources would be very well placed to maximise the obvious potential that the brand represents.

Key Strengths:

The business has many strengths including

• Consumer loyalty
• New product development capability
• Quality and product integrity
• Macro led trend for “clean”food
• Excellent reputation among retailers
• Outstanding supplier relationships

Advertising and Marketing:

The company has an excellent website providing details on the range of products and the opportunity to purchase directly.

Growth and Expansion:

The vendor believes that an opportunity to grow by investment in resources and in sales & marketing activity and also believes that this business would be a perfect platform from which to grow by other acquisitions within the sector.

Employees:

The vendors are ably supported by a team of one family member/manager and one management intern.

Premises:

The company outsources all its production and the business is managed by the vendors from an office at the home address.

Business Hours:

Monday – Friday: 09:00-17:00

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Turnover: c. £800,000 per annum (2020 accounts)
Gross profit: c. £260,000
Net assets: c. £32,000
The business currently trades at a loss and it is strongly believed that the brand is well consolidated and ready for the sorts of marketing that would increase demand very significantly, requiring the security of greater financial resources to guarantee meeting that demand.

Reason for Sale:

The vendors believe they have reached the limit of their management capabilities and wishes to concentrate on other business interests.

Support and Training:

The current owner would be happy to provide full training and support at handover.

Asking Price:

Offers are invited for 100% of the issued capital of the company, assuming Net Assets of circa £32,000 on completion (calculated on a zero cash-zero debt basis). The final selling price will have a £1 for £1 adjustment for any rise or fall in this benchmark Net Asset figure of £32,000 at completion.
Location Details:
The company outsources all its production and the business is managed by the vendors from an office at the home address.
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