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Project Flame - Business and Assets for sale

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PROJECT FLAME

- Offers are sought for the business which specialises in providing smoked salmon to the UK retail sector.

- The business has operated for nearly 30 years and benefits from a strong reputation within the sector.

- It has an established brand, in addition to experience producing supermarket own label products.

Business Overview

- The Company’s customers include major supermarkets, smaller retailers and some foodservice businesses. It supplies a core of 20 SKUs including hot and cold smoked salmon, smoked salmon flakes and smoked trout.

- Forecast turnover for the year to April 2022 is £14m, FY21 £14m.

- The recent loss of a major customer relationship will reduce turnover. Historically this own label supermarket customer has contributed turnover of approx. £7m p.a.

- Consequently forecast sales are approx. £7m p.a., primarily comprising the Company’s branded product.

- The Company currently trades from c20,000 sq. ft. leasehold premises in the North of England (8 years left on lease).

- Fixed assets principally comprise plant & machinery, some of which has related finance. In addition there is stock of finished goods, packaging and raw materials.

- The Company currently employs 84 staff (10 office, 74 production/operations). A redundancy process is underway with the workforce anticipated to fall to 45 being 5 office and 40 production/operations.