Aimia Foods has been reacquired by the Unsworth family, who originally sold the UK-based company in 2014 to Canada’s Cott Corp. This strategic move marks a significant return to family ownership for a business founded in 1981.
The acquisition was facilitated through funding from HSBC and Beechbrook Capital. These funds will be directed towards accelerating organic growth and enhancing in-house manufacturing capabilities, which are vital for staying competitive in the food and beverage industry.
Based in Haydock, Merseyside, Aimia Foods is known for producing a diverse range of food and beverage products, including licensed brands such as Mars hot chocolate, with whom they have partnered since 1999. Additionally, the company manufactures Horlicks chocolate malt drinks for markets in the UK, Ireland, and continental Europe, while Unilever manages the brand’s distribution in Asia, particularly in India and Bangladesh.
Clairfield, the M&A advisory firm assisting Aimia Foods with this transaction, reported the company’s current annual turnover at $120 million (approximately $158.9 million). However, the specific financial terms of the deal and the funding amounts from HSBC and Beechbrook were not disclosed. Notably, Cott acquired the business in 2014 for $80 million.
Aimia Foods’ management team, including Managing Director Paul Whitlow, will retain their positions, while Rob Unsworth will assume the role of chairman. Unsworth expressed his excitement about the return to family ownership, stating, “I am delighted that once again Aimia has been bought back under family ownership.” He added that the company will continue to pursue growth through its existing and new branded beverage products both domestically and internationally.
The company’s product portfolio features the Milfresh brand of milk, Shmoo milkshakes, 1883 syrups, and Drink Me Chai tea and coffee alternatives. They also have licensed offerings from Mars, including Celebrations and Galaxy chocolate drinks, Galaxy ice-cream mixes, and M&M’s cookie mixes.
Employing around 300 individuals, Aimia Foods supplies various sectors including retail, foodservice, vending, and cash-and-carry. Their products are also accessible through their online platform.
Stating their enthusiasm for the acquisition, Andy Oates, a regional head of corporate finance at HSBC, remarked, “We were delighted to be given the opportunity to support Rob bring Aimia back into his family ownership. We are excited about Aimia’s future in the market and look forward to partnering with Rob and the management team on that growth journey.”
Paul Whitehouse, an investment director at Beechbrook, commented on Aimia’s market position, saying, “From the outset, we recognized that Aimia is a high-quality UK manufacturing business and a market leader in its key categories. The family and the management team have an impressive track record in building strong customer relationships and brands, and we look forward to supporting the group’s further development as a result of our investment.”
In summary, the repurchase of Aimia Foods by the Unsworth family is a strategic move aimed at rejuvenating the company’s growth trajectory in the food and beverage market. The investment and focus on in-house manufacturing will be crucial as Aimia navigates food and drink consumer trends in an evolving landscape.
