Springboard Corporate Finance is delighted to announce that it has advised on the sale of Worcestershire-based food manufacturer Tollblend to Lesaffre, a French privately owned multi-national strategic acquirer.
About the deal
Tollblend, established in 1987, has extensive powder blending experience in manufacturing, including impressive “gluten-free” production facilities, and providing food science consultancy services to the food production industry. Tollblend provides powder blends to many large multi-national organisations who supply major UK supermarkets and specialist food producers.
Lesaffre, which was established in 1853, manufactures and markets innovative solutions for baking, food taste & pleasure, health care and biotechnology and employs in excess of 9,000 people across more than 70 subsidiaries based in 40 countries.
Tollblend was advised on the transaction by Justin Sparks, Partner at Springboard Corporate Finance, with legal advice provided by Alison Scott from Harrison Clark Rickerbys.
Justin said “The shareholders of Tollblend have invested heavily in their business over recent years. They built a low cost production facility whilst at the same time focusing on adding value with their consultancy services. This exit represents a vindication of this strategy and we are delighted to have been able to deliver this transaction for the shareholders”.
How we made a difference
- Engaged with strategic buyer and dealing with cultural differences
- Supported the discussions amongst the key stakeholders to agree terms of the sale;
- Negotiated the terms of the transaction to secure a strategic premium;
- Negotiated key on-going roles for the shareholders and third party consultants; and
- Project managed the deal through to completion to preserve value through the due diligence process.
Brian McCluskie - Former Chairman, Tollblend
We are indebted to Springboard for their professional and dedicated work in successfully bringing the two companies together. Their experience proved invaluable in addressing the complex negotiations whilst allowing the management team to focus on continuing to grow the business. I am in no doubt that Springboard saved us time and energy, reduced our stress, and worked tirelessly to achieve this outcome.