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Acquisition Opportunity

Bid Deadline:
Monday 20th December 2021 at 12pm GMT

Primrose's Kitchen

Hilco Streambank is pleased to offer the opportunity to acquire the intellectual property and business assets of Primrose’s Kitchen Limited (In Liquidation) (“Primrose’s Kitchen” or the “Company”) on behalf of the Joint Liquidators of the Company, Milan Vuceljic and Simon Thomas of Moorfields Advisory Ltd.

Background

Hilco Streambank is appointed to actively seek interested parties with regards to the sale of the intellectual property and business assets of Primrose’s Kitchen, a Dorset-based manufacturer of handmade raw vegetable gluten-free muesli and superfoods.

Launched in the last decade, Primrose’s Kitchen produces healthy, organic, plant-based and gluten-free mueslis, granolas and porridge. Handmade in Dorset, the Company’s products combine unexpected fruit and veg combinations and high-quality British oats, all bundled in 100% recyclable packaging, supplying an ever-growing demand for organic, vegan, and gluten-free foods that are sustainably sourced.

The Company products have been listed by the likes of Waitrose, Ocado, Holland and Barrett and Selfridges, with ties to selected retailers in five other countries.

Primrose’s Kitchen’s brand and products have also received industry recognition, with the Company’s Carrot, Apple and Cinnamon Muesli and Beetroot, and Ginger Muesli awarded two gold stars for the Great Taste Awards.

The Company has amassed a sizeable social media following of c. 18k followers on Instagram, c. 5.2k followers on Twitter and c. 4.6k likes on Facebook.

The Company has established a reputation as a vital source for industry-approved and consumer-tested health food products. Over the last three years, the Company generated revenue in excess of £1.3m.

The health food sector is changing; no longer are health foods seen as tasteless and bland. Instead, they are seen as exciting, delicious and vital as part of a balanced diet. This sale presents an opportunity for a savvy buyer to acquire the assets and break into the lucrative health foods market or for an established brand to add a new dimension to their portfolio, capitalising on the growing demand for fresh and clean food ingredients and rising health consciousness among consumers.

Available Assets

The Primose’s Kitchen Brand

The Primrose’s Kitchen health food brand is highly regarded and respected internationally.

The driving force behind the brand is self-empowerment through the medium of diet and food. By creating nutritious and great tasting food in beautiful packaging, the brand is designed to instil excitement in its customers, encouraging them to nurture themselves with the help of the innovative Primrose’s Kitchen product offering.

The brand has become synonymous with healthy and natural food and ingredients.

Furthermore, the brand has garnered significant media attention and praise from The Guardian, Feast Magazine, Marie Claire and The Times.

Registered Trade Marks

The Company owns several registered trade marks protecting the brand name and associated logo device across the UK and EU, spanning a range of product categories, including fruit and nut-based snacks, cereals, smoothies and more.

Copyright in the Website Content

The Company maintains the vibrant and attractive Primrose’s Kitchen e-commerce website, hosted at www.primroseskitchen.com, directly linked to revenue and featuring a supporting blog offering recipes and lifestyle tips.

Domain Names

The Company owns the primary and high-traffic primroseskitchen.com domain linked to the Company’s website, along with the supporting primroseskitchen.co.uk domain name.

Social Media Accounts

A sizeable social media following supports the Primrose’s Kitchen brand and website. The Company has amassed c. 18k followers on Instagram, c. 5.2k followers on Twitter and c. 4.6k likes on Facebook.

Customer Data

The Company has a customer database. Regular newsletters were sent to customers, enhancing engagement.

Supplier Data

The Company has established good relationships with key manufacturers that support and supply the business.

Fixed Assets

The Company’s equipment for the day-to-day running of the business is available as part of any sale. A fixed asset register is available upon request.

Inventory

Stock held by the Company is also available to acquire, including finished products, cartons and outer cases.

Sale Process

Offers are due December 20, 2021 at 12pm GMT.

All expressions of interest and bids are to be directed to Hilco in writing. A Bid Submission Form is available on request. Please contact Hilco to register your interest and for further information.

Key Terms & Conditions

The bidder acknowledges that Hilco acts as an agent for the Joint Liquidators who offer for sale only what right, title and interest (if any) the Company possess in the assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Joint Liquidators and bidders are deemed to have carried out their own due diligence.

VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. A buyer’s premium of 10% of the sale price is payable by the winning bidder. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank’s full Terms and Conditions apply.

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