Fri, 14 May 2021 | BUSINESS SALE
Noble Foods is close to selling its dessert brand Gü to Exponent Private Equity for £150 million. If the deal closes it would represent a 11.8x multiple of the company’s most recent gross profits of £12.7 million, generated on revenue of £47.9 million.
Exponent is understood to have entered into exclusive negotiations to buy the brand. However, the deal is reportedly not yet certain, with several other bidders, including both trade and finance parties, said to remain interested.
Gü is among the UK’s most popular pudding brands. In recent years, it has been a key driver in the booming luxury desserts market, boasting a 20 per cent market share among the UK’s premium dessert brands. During the COVID-19 pandemic, it has also benefited from surging sales of comfort foods.
Gü was founded in 2003 by owner and MD James Averdiek. Noble Foods beat out interest from Mars and Nestle to acquire a majority stake in the company in 2010. Noble Foods considered a sale around two years ago, when Nestle again expressed an interest.
In November 2020, Noble Foods engaged bankers from Spayne Lindsay to manage an auction for Gü as the parent company’s new CEO Duncan Everett refocused the company’s strategy.
Gü’s most recently available accounts at Companies House cover the year to September 27 2019. In that period the brand generated post-tax profit of £1.2 million on its near £48 million in revenue. This was up from a £275,000 loss on £42.7 million in turnover the year prior.
At the time, the company held fixed assets valued at £50.3 million and current assets of £18.2 million. The company owed creditors close to £41 million, leaving it with net assets of £27.7 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
Charming town centre restaurant in Cheshire, featuring excellent indoor and outdoor spaces, is now on the market.
LEASEHOLD
This thriving pub/restaurant, located in a prime trading area, presents an exciting opportunity for those looking to acquire a successful business.
LEASEHOLD
Offering for sale this Japanese restaurant with alcohol license till late. The current owners have invested heavily in new equipment, fixtures and fittings. The ground floor & basement premises are significant in size and the new owner may consider d...
LEASEHOLD
21
|
Apr
|
Sybron undergoes management buyout | MBO/MBI
Sybron, a supplier of cleaning, hygiene and catering product...
21
|
Apr
|
Construction group Gilbert-Ash moves to employee ownership | BUSINESS SALE
Construction and fit-out company Gilbert-Ash has transitione...
21
|
Apr
|
Cargostore Worldwide makes its first ever acquisition in 30-year history | BUSINESS SALE
Cargostore Worldwide, a leading global supplier of DNV and I...
01
|
Nov
|
Exponent Private Equity prepares for £500m Racing Post sale | BUSINESS SALE
Exponent Private Equity has reportedly entered talks with in...
16
|
Aug
|
Specialist publisher sold at near 3x revenue | BUSINESS SALE
Exponent Private Equity has agreed a deal to sell Dennis Pub...
07
|
Jun
|
Dennis Publishing puts The Week up for sale | BUSINESS SALE
Dennis Publishing has put its news and current affairs publi...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.