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MBH Corporation expands US footprint with acquisition of bacon maker Boulder Sausage

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MBH Corporation Plc (FRA:M8H OTCMKTS:MBHCF) has agreed the acquisition of US sausage and bacon manufacturer GBS Partners, which trades as Boulder Sausage.

The investment holding company said it is the third US deal in six months, following the acquisition of real estate investor association Meeting of the Minds and real estate brokerage Everyday Realty Services in September.

READ: MBH Corporation expands into engineering with first acquisition of 2021

MBH said it now has 24 companies in its portfolio and with this deal has also established a new food manufacturing vertical.

Boulder launched over 50 years ago and has been committed to the same sausage recipe ever since, alongside additional firm commitments to minimise processing of ingredients.

Sausages are a popular food in the States, with analysis of consumption data revealing that 36% of the population ate more than 2lbs of bangers in 2020.

Boulder is looking to grow through e-commerce platforms in addition to the existing sales to brick and mortar retailers and through acquisitions to diversify its product range and customer base.

In the year to December 31, Boulder generated sales of US$4.8mln (£3.4mln) with underlying earnings (EBIT) of US$0.4mln (£0.2mln).

The total consideration will be £2.1-2.6mln which will be settled by way of a listed bond in accordance with the MBH bond programme with a five-year maturity with principal payable at maturity and 5% coupon rate per annum payable semi-annually.

“Boulder Sausage is the latest example of our agglomeration policy of acquiring long-established and successful businesses with exceptional leadership and ambition for further growth,” said MBH chief executive Callum Laing in a statement.

Story by ProactiveInvestors


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