Orbis advises on sale of premium food importer FineFrance UK to Vestey Holdings
Established in 1989, FineFrance UK Limited is an importer and distributor of premium food products sourced from across Europe. The Company operates across London and the South of England, supplying to over 400 restaurants as well as the wholesale markets. Over the last 25 years, FineFrance’s ability to combine high provenance premium products with exceptional levels of customer service has enabled the company to develop a high-quality customer base to include Michelin star restaurants, gastro pubs and established wholesalers.
The advice and guidance received from Orbis throughout the process has been invaluable and has helped to deliver an excellent result for the shareholders.
Alain Nozahic, Managing Director and Shareholder
Orbis worked closely with the shareholders from the beginning of the process to understand the key value drivers of the business and to identify strategic buyers within the sector who would benefit from FineFrance’s premium positioning and exceptional customer base.
At an early stage of the process, Orbis identified Vestey Holdings – a £300m+ turnover group specialising in supplying, sourcing and distributing food products to 70 countries – as a strong strategic buyer due to its previous experience within the fine food sector and the complementary businesses within its Group.
In addition Orbis:
- Spent time with the shareholders to understand the unique selling points of the business and presented these in the IM.
- Secured a strategic multiple by identifying strong potential buyers and creating competitive tension in the bidding process.
- Led the preparation and review of the financial due diligence on behalf of the shareholders.
- Negotiated the normalised working capital target and free cash upon completion securing an excellent result for the shareholders.
- Provided financial and commercial advice in relation to the exercising of shareholder options.
- Assisted with negotiating key commercial aspects of the legal documents to ensure the successful completion of the deal.