{"id":1060,"date":"2024-08-17T14:31:16","date_gmt":"2024-08-17T14:31:16","guid":{"rendered":"https:\/\/itqanequity.com\/?p=1060"},"modified":"2024-08-25T13:43:09","modified_gmt":"2024-08-25T13:43:09","slug":"foodservice-distributor-in-the-midwest-with-mbe-designation-3-2","status":"publish","type":"post","link":"https:\/\/itqanequity.com\/index.php\/2024\/08\/17\/foodservice-distributor-in-the-midwest-with-mbe-designation-3-2\/","title":{"rendered":"Spice Blending\/Contract Packaging\/Dry Food Manufacturer for Sale in Florida"},"content":{"rendered":"\n
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Founded in 2001 by the original owner, this profitable and well-established wholesale private label dry food manufacturing, blending, packaging, and co-packing\/toll packing company has consistently grown year after year, with the exception of the COVID years. Sales in 2022 have rebounded, continuing the company\u2019s long-standing growth trajectory. <\/p>\n\n\n\n

The company specializes in manufacturing, packaging, and distributing bulk and packaged dry food blends directly to customers and through established distributors. With a focus on wholesale private label and turnkey product solutions, the business also offers contract packaging services to meet customer needs. Known for high-quality, natural blends, the company operates efficiently on a 34-hour workweek, Monday through Thursday, with three payroll employees, thanks to recent automation that has reduced payroll and overhead costs. The owner and spouse work part-time, allowing for additional cost savings by avoiding the need for extra employees and workman\u2019s comp insurance. <\/p>\n\n\n\n

Located in a 7,800 sq. ft. updated and approved food-grade facility\u20144,000 sq. ft. on the ground level and an additional 3,000 sq. ft. mezzanine\u2014the company\u2019s premises can easily be relocated anywhere in the United States if desired. Customers and suppliers are nationwide, providing flexibility in location. The facility can be leased back to the new owner at $12.34 per sq. ft. if preferred, and the business is also available for purchase separately from the real estate. <\/p>\n\n\n\n

With unlimited growth potential, the company is positioned for expansion into e-commerce, retail distribution with an in-house brand, contract packaging, food service distribution, drop shipping, and further marketing efforts. Direct offerings to major retail establishments are currently made through established customers and brokers. A significant portion of the customer base is on pre-payment terms, ensuring consistent cash flow, while long-term customers enjoy Net 10-15 day terms or customized arrangements. Recent infrastructure investments include a four-color in-house inkjet label printer, enhancing the company\u2019s ability to offer a one-stop-shop service, strengthening customer relationships, and driving a profitable revenue stream. Further automation investments made in 2021-2022 have increased production efficiency, allowing for higher output with fewer employees, boosting owner benefits. <\/p>\n\n\n\n

Looking ahead to 2024, the company plans to emphasize e-commerce sales under a secondary retail label and expand contract packaging efforts, targeting these profitable growth areas. <\/p>\n\n\n\n

This is not a distress sale. Food manufacturing companies typically sell at a multiple of 5.5x to 15x. The sale includes SBA pre-qualification for both the business and real estate, along with a business valuation and real estate comps. Proof of funds is mandatory, with no owner financing or funds holdback at closing. With 23 years of proven success, the company\u2019s historical owner benefit is significantly higher than what\u2019s recorded on paper.<\/p>\n\n\n\n

2024 sales are currently up 12.5% over last year to date, with new customer contracts secured for continued growth. The asking price is set below market value and includes real estate.<\/p>\n\n\n\n

Production Videos: http:\/\/www.youtube.com\/@Kevin-fh1zp<\/p>\n\n\n\n

SBA Pre Qualified\/Established over 20 years<\/mark><\/strong><\/p>\n\n\n\n

$3,995,000<\/mark><\/strong><\/p>\n<\/div><\/div>\n\n\n\n

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Gross Revenue<\/strong><\/td>Cash Flow<\/strong><\/td>EBITDA<\/strong><\/td>Inventory<\/strong>
included in asking price<\/mark><\/td>		FF&E<\/strong>
included in asking price<\/mark><\/td>		Real Estate<\/strong>
included in asking price<\/mark><\/td><\/tr>
$1,012,014<\/td>$457,653<\/td>$457,653<\/td>$50,000<\/td>$293,575<\/td>$1,700,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

About the business<\/h2>\n\n\n\n
Location:<\/mark><\/strong><\/td>Jacksonville, Florida<\/td><\/tr>
Year Established:<\/mark><\/strong><\/td>2001<\/td><\/tr>
Number of employees:<\/mark><\/strong><\/td>4<\/td><\/tr>
Real Estate:<\/mark><\/strong><\/td>Owned<\/td><\/tr>
Building Sq. Ft.:<\/mark><\/strong><\/td>7,800<\/td><\/tr>
Facilities:<\/mark><\/strong><\/td>FOOD GRADE
End unit, 4000 SQ FT on ground floor with an additional 800 SQ FT office and 3000 SQ FT mezzanine totaling 7800 SQ FT. Facility is an inspected and approved food grade manufacturing facility fully air conditioned, 3 phase\/220 V power, loading dock, 2 overhead doors.
Gated location near all major expressways.<\/td><\/tr>
Market Outlook \/ Competition:<\/mark><\/strong><\/td>The strategic position we have developed for our company has very little competition. Many other companies in our industry have chosen to focus on very large volume customers which return a much smaller profit margin. We have chosen to go in the opposite direction and focus on smaller customers which yield much higher profit margins and have unlimited future growth. This allows us to have a better control of our new and existing customer base.<\/td><\/tr>
Growth & Expansion:<\/mark><\/strong><\/td>The company has an unlimited growth potential with further expansion into e-commerce, retail distribution with in house brand, contract packaging, food service distribution, drop shipping and additional general marketing. Also direct offerings to major retail establishments which we currently do through established customers\/brokers.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

About the sale<\/h2>\n\n\n\n
Reason for selling:<\/strong><\/mark><\/td>The owner is retiring due to health related issues.<\/td><\/tr>
Training \/ Support:<\/strong><\/mark><\/td>Negotiable (2-3 months)
The original owner strives to see any future buyer not only succeed, but grow the business to its full potential.
Owner is willing to consult remotely at an additional charge.<\/td><\/tr>
Seller financing:<\/mark><\/strong><\/td>No owner financing or hold backs in funds.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Get in touch!<\/h2>\n\n\n\n
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