An online packaging retailer with £2m turnover secures a retirement exit for the vendors, completed during the pandemic by Avondale.
The owners approached Avondale in the Autumn of 2019, looking to fully exit their online packaging supply business and allow more time for other personal interests. Avondale launched the project in February 2020 and had generated strong trade interest by the time the first lockdown was announced, and further marketing was paused. However, our clients’ chose to continue discussions with a private investor we introduced, and with Avondale leading the negotiations, a mutually beneficial deal was agreed. The vendors were delighted with the outcome after challenging circumstances due to COVID-19 and the investor having to change funders mid transaction, and they have now successfully handed over and are enjoying their retirement.