The business occupies a fully refurbished production and distribution facility with space to expand alongside an office suite and small retail outlet on a conveniently located industrial estate within the city boundary close to the A38 trunk route.
This is a rare opportunity to acquire a high quality bakery wholesaler and pasty specialist enjoying strong working relationships with a major multiple and a number of convenience stores groups, as well as acting as the Devon agent for a major regional bread producer.
The business occupies conveniently located premises on a popular industrial estate within the city boundaries, the production facility having been designed and fitted out to a high standard to the owners’ own specification, in whose opinion, there is space and capacity to double production (current t/o c £2m pa).
The business would be suitable as a bolt-on to an established player keen to develop their business in the far South West or alternatively to an entrepreneur seeking an independent bakery business with a strong local presence and image.
This is a confidential sale and enquiries are invited only from seriously interested parties.
The business was started from scratch by the current owners in 2009.
Please note that if a business is VAT registered, all figures exclude VAT.
Turnover of c £2,000,000 was reported for the year ended 31 December 2016 and accounts for the year ended 31 December 2017 are expected to be available shortly.
Detailed financial information will be made available to interested parties upon completion of a form of confidentiality agreement and following an exchange with Adams & Co regarding background, reason for interest, financial position and ability to proceed.
REASON FOR SALE:
Whilst too young to retire altogether, the owners have worked incredibly hard over an extended period whilst building the business and wish to sell-on now to be able to devote more time to their respective families.
The vendors (there are three directors) are supported by a team of 27 staff. The structure includes a bakery general manager, with considerable experience being available among the team on the manufacturing side, and there is also an office manager. The directors share responsibilities between them; one taking a broad management overview, another running the significant pasty business and the third supervising bookkeeping and administration.
The offices are normally staffed between 9am and 4pm Monday to Friday with delivery rounds commencing from 2am on those days. There are no deliveries on Sunday.
(all sizes are approximate & should be considered 'nominal'.)
The business occupies 2 x interconnecting commercial units comprising the production facility and distribution area, together with a further immediately adjacent commercial unit which accommodates the small retail pasty shop with kitchen area and office space to the rear and which is independently accessible to the side.
The units form part of a larger development of light industrial units with good access and parking facilities on one of the major industrial parks lying within the city boundaries.
The production facility was created by the current owners within the space once occupied by a series of office units and has been designed specifically for its current use. Spacious and comprehensively equipped to a high standard this unit interconnects with the distribution facility (c 2,650 square feet approx) which also benefits from a mezzanine floor area (in excess of 500 sq ft) together with offices and WCs and easy vehicular access. A 5 star food hygiene rating is retained.
In the opinion of the current owners, there is sufficient space and capacity to double the production on this site.
There are approximately 10 parking spaces to the front of the building for use by visitors and management but also unrestricted on-road parking within a matter of yards for other staff.
The inventory of equipment includes, inter alia, the following principal items:
Bongard 2 rack oven
Bongard 1 rack oven
Mono 5 deck, 15 tray oven
Mono 3 deck, 9 tray oven
Baketech 4 pocket roll plant
2 x spiral mixers
Ilapak flow wrapper
1 x 10 pallet freezer
1 x 10ft x 8ft freezer
1 x walk-in fridge 30ft x 10ft
1 x walk-in fridge 10ft x 6ft
Plus tables, scales, racks, trays and bread tins as you would expect in a business of this type.
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
There are three separate leases now running coterminously for 5 years from 1/4/18. Combined rents of £6,825 per quarter are currently payable, together with an annual service charge/insurance payment (c £667 for the year to January 2019).
A quarterly account is also received from the landlord in respect of the solar energy usage.
ENERGY PERFORMANCE RATING:
Details are awaited