Based in London, Plasto Food Services was a food and beverage company specialised in the handling, processing and packing of dried fruits from the Persian Gulf and Pakistan.
Plasto Food Services was part of a larger group, and in an effort to make their business leaner, the group’s shareholders made the decision to divest this ‘non-core’ business. The capital released from the sale would then be invested to expand the core business units. Already aware of Avondale’s strong reputation the directors of Plasto Food’s parent company approached Avondale to oversee the sales process.
Avondale’s targeted marketing for Plasto Foods successfully generated expressions of interest from many potential acquirers. Through a combination of face-to-face meetings and research, the Avondale team carefully identified the most suitable buyers. The eventual purchaser offered a strong strategic fit with Plasto’s brand and had the resources to provide cash finance on completion.
Avondale’s team carefully managed the negotiations, securing a high headline value for the company and extremely favourable terms for the exiting directors. With a deal agreed, the transaction closed three months after Avondale’s initial instruction. Two of IntraLAN’s directors agreed to stay on in leadership positions, to help manage the transition and guide the company through to its next phase of growth under Eli Global’s ownership.