Utah (UT) Business Brokers | Murphy Business
Utah (UT) Business Brokers | Murphy Business
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(801) 917-5444
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Manufacturing / Food/Kindred Products
The Company uses quality ingredients to create delicious hand-made products. Many fine restaurants, chefs, gourmet and home cooks around the world use the product. The product can be found in more than 30 states at grocery stores including; Whole Foods, Harmons, Smiths, Associated Foods and many more.
The Company has won Best of State (Utah) for the past three years in a row under their respective category.
Revenue and profitability have been producing steadily since 2017 indicating the products continued success with consumers. Efforts to grow the business took a back seat when the owners husband suddenly got sick and had to keep the business running smoothly.
Although the owner is hoping to have a change of lifestyle, they would like to stay involved post-close to help a new buyer take the business to the next level. This continued involvement will significantly reduce risks associated with an acquisition and ensure a seamless transition.
The key factor that will push the Companies growth is a new hire made in February 2022. This new hire (owners current spouse), has been a food broker for over 50 years and recently retired from a prestigious food brokerage in California. A new buyer will have continued guidance of day-to-day operations from the current owner and 50+ years’ experience in food brokering from the owners spouse. This is a very favorable combination that will lead to rapid growth in 2022 and many years to come!
The proposed transaction asks for a large upfront cash payment. However, because the owner and owners spouse would like to stay involved to help the company grow, an earn-out would be considered for the right buyer.
The company was founded in 1990 and was purchased by the current owner in 2014.
