Cambs-based March Foods has been acquired by Herts-based Italian Beverage Company in a deal where Forward Corporate Finance advised the buyer. March Foods is one of the UK’s leading co-manufacturer and co-packers. Operating from purpose-built facilities in March, the firm specialises in filling, packing, and bottling leading household brands. IBC Simply manufactures and distributes quality food service products such as syrups and sauces (photo). It was founded by Sheldon Flax in 1993 and remains a family-run business with son Ricky Flax now at the helm.
The acquisition of March Foods - IBC Simply’s contract packer - was identified as the best strategic next step due to their long-standing relationship and growth opportunities for the two companies, who now come together under a new parent, Delightful Food Group. The Forward Corporate Finance team of Rob Dukelow-Smith, Amie Goodlad and Amy Hochuli, assisted IBC Simply throughout the transaction process. Ricky Flax, IBC Simply CEO, said: “We would never have completed the acquisition without Forward. The preparation stage they took us through was extremely detailed, showing us many options for funding the deal and structuring the acquisition, and then once we were agreed on a strategy, Forward not only found the best funding structure and funding partner for us, but managed a very tight process to completion, with a lot of stakeholders to manage.”
Rob Dukelow-Smith said: "...Their vision for the merged companies is truly exciting, and we are thrilled to have played a part in launching the beginning of a promising next stage for the business.”
