Smith & Williamson advises on MBO of The Fresh Olive Company

Fresh Olive has been supplying the food industry for more than 18 years through the import, packaging and distribution of olives, olive oils, pure nut oils, pesto, vinegars and antipasti to retail businesses, restaurants, hotels and food manufacturers. Products are sourced from a variety of countries including France, Spain, Italy, Greece and Morocco.

In 2006, founders George Bennell and Adam Wells sold majority stakes in Fresh Olive to an external investor who embarked on a buy and build strategy through the acquisition of two further food businesses. However, due to adverse economic conditions and an unsuccessful expansion plan Fresh Olive fell into administration and the business has subsequently been bought back by the original owners and Sales Director Charlie Hodges.

Brian Livingston, Head of Mergers and Acquisitions at Smith & Williamson commented: “We were delighted to advise Fresh Olive on the management buy-out and to introduce the funding for the deal.  The financing of Fresh Olive shows that quality companies with good management, in good sectors can still attract funding even in these difficult times.”

George Bennell, said: “Brian Livingston and Andy Pedrette at Smith & Williamson expertly guided us through a complex situation to complete the acquisition to a tight timetable with minimal disruption to the business.  We’re delighted we can take Fresh Olive back to the very core of supplying our premium Mediterranean offer to our loyal foodservice customer-base."

Disclaimer

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

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