MHA's corporate finance & tax team support longest operating food manufacturer in local acquisition

Fenmarc, one of the top 50 fast growing businesses in Cambridgeshire who supply major customers with retailer own label products, has acquired another local business specialising in carrot and root veg growing and preparation. The deal was supported by MHA’s corporate finance and tax team who provided financial and tax due diligence.

Fenmarc, who in August this year became a certified B Corporation and is considered one of the most efficient and modern fresh food manufacturing facilities in the UK, have acquired Alfred G Pearce who have been a trusted and valued supplier to them for over 20 years. The local family business is aligned with Fenmarc, signalling a natural step in working towards a more resilient supply chain. The Pearce family and broader leadership team at Alfred G Pearce will all continue to play a full and active role within the new integrated business.

Fenmarc CEO, Jim Waller adds: 

This acquisition opens up opportunities for both businesses in each other’s market sectors. We have complementary customers who will benefit from the new broader group with improvements in quality, service and innovation to better meet the consumer need to eat more healthy food. We’re looking forward to working with our new colleagues and forging closer relationships with our growers to continue to develop and enhance our sourcing strategy.”

Simon and Jonathan Pearce, owners of Alfred G Pearce Ltd said: 

This is a natural joining of two family-owned businesses, providing Fenmarc with a route back to the soil and opportunities in both the B2B sector and the retail prepared space, with an integrated model for prepared vegetables from field to consumers plates. We feel both companies share similar values in the way they do business and the value we place on our colleagues. It also provides Alfred G Pearce Ltd with opportunities to accelerate its existing expansion strategy through close relationships with our customers, robust direct supply chains and investing in automation.”

Rob Dando, Head of Transaction Services and Nathan Sutcliffe, Tax Partner, at MHA commented: 

It was great to work with Fenmarc and the wider adviser team to support them in their acquisition of Alfred G Pearce. As a combined buyside advisory team, we managed to get the deal across the line before the Autumn Budget, meaning both parties achieved the result they wanted and demonstrated the collegiate relationship of the two businesses, even before any integration has taken place. We look forward to seeing them flourish even further with their broadened capabilities.”