Verlinvest is a private equity fund, with a particular interest in consumer investments. They were interested in acquiring KP Snacks as a complementary acquisition to their Popchips investment. Food Strategy Associates were hired to undertake commercial due diligence on the KP business.
The role encompassed a review of the information memorandum and identification of issues and opportunities impacting value prior to Phase 1 offer submission.
In Phase 2, we reviewed vendor due diligence material, data room information and attended management presentations. We identified additional profit opportunities for the business on top of business plan projections and highlighted risks with the business plan and priorities.
Ultimately, Verlinvest declined to submit a second-round bid for the asset.
Eric Melloul, Investment Director:
“Will Carter and Food Strategy Associates gave commercial due diligence support to our evaluation of a UK food business of some scale. The input was of real value and demonstrated a deep knowledge of both the category in question and also of the wider UK food industry. The analysis was prepared with thoroughness and communicated clearly and professionally, providing an appropriate challenge to some of the assertions of the vendor DD, but also highlighting additional opportunities not highlighted by the vendors. We would certainly consider employing the services of Will and Food Strategy associates again in the future”