Selling a Food Distribution Business
What’s it really like to sell a food distribution business? Here is the unfiltered inside view from Dr. Richard Strongman, former shareholder / Managing Director of Harvest Fine Foods which was acquired recently by Bidfood.
As the owner of a 2nd generation family business, a venture into which I have poured over 20 years of my life to grow, the decision to sell is a tough one and the journey to exit fraught with emotions. As owners we can be very protective of our “babies” and get in the way of our own best interests.Dr. Richard Strongman, Harvest Fine Foods
Selling your business is one of the biggest and most important business decisions you can make in your life and it is important to work with someone you trust. I have known Justin for over 10 years before finally engaging him to sell my business.
We started the thought process nearly 3 years before we finally exited and I can’t stress enough the importance of doing this. Justin gained an understanding of our business and helped us to put in place various documentation and systems/records which would help the smooth due diligence down the line.
From the outset Justin skilfully managed relationships on buy and sell-side to deliver a great outcome for all parties. There were times in the process where I confess, I felt frustrated, but having Justin there to reassure me that these tribulations were entirely normal and to handle the sensitive negotiations to see the deal through to conclusion was a blessing. His attention to detail was vital during the very earliest stages of the sale when a misinterpretation of the deal structure could have de-railed the whole process. He is experienced and has “seen it all before” and as such was unruffled by the back and forward nature of these types of negotiation.
In short, if you are considering an exit, I wouldn’t hesitate to recommend Justin and the Team at the TheNonExec Ltd, but make sure you engage them as early as possible for the best outcome.