Springboard Corporate Finance is delighted to announce that it has advised First Milk, a Dairy Co-Operative on the disposal its premium sports nutrition business CNP Professional (“CNP”) to The Protein Partners Ltd.
About the deal
Founded in 1998 by former British bodybuilding champion, Kerry Kayes and based in Hyde, Manchester, CNP has grown to become one of the pre-eminent brands in premium sports nutrition. Through its in-house manufacturing facility, CNP has serviced the sports nutrition market with an elite product range, recognised and supported by professional athletes including British Cycling Team GB, amateur/sports enthusiasts and health conscious consumers.
Partner Ben Bolt and Executive Matthew Guest of Springboard advised First Milk, on the transaction. Ben commented “Under First Milk’s stewardship CNP has maintained its market position as a pre-eminent sports nutrition brand with a reputation for innovation, high quality products and an excellent and loyal customer base. We secured a range of competitive offers and are delighted to have negotiated and delivered the sale to The Protein Partners, which we believe represents an excellent deal for both parties”
How we made a difference
- Helped prepare the business for sale including positioning the business and assessing carve out plan;
- Identified and targeted an extensive list of trade partners with strong strategic rationale for acquiring the business;
- Supported the shareholders through the process and coached the management team of CNP through the buy-out element of the deal; and
- Project managed the deal through to completion
Mike Gallacher - CEO, First Milk
Springboard promised a partner led service and a professional sales process. They delivered on both counts, provided sound advice throughout the transaction and demonstrated considerable commitment to achieving a successful outcome.