Aimia Foods has been bought back by the Unsworth family, who sold the UK business in 2014 to Canada-headquartered Cott Corp.
The repurchase of the company the Unsworths founded in 1981 has been supported with financing from HSBC and Beechbrook Capital, funds that will be used to “accelerate organic growth and enable investment to boost in-house manufacturing”.
Aimia Foods, based in Haydock, Merseyside, produces its own range of food and beverage products, and also brands under licence, such as Mars hot chocolate drinks in a partnership dating back to 1999.
It also manufactures the Horlicks chocolate malt drinks for markets in the UK, Ireland and continental Europe. Unilever owns that brand to serve destinations in Asia, such as India and Bangladesh.
Clairfield, the M&A advisory firm that assisted Aimia Foods in the deal, said the company’s current annual turnover is $120m ($158.9m).
The financial terms of the transaction, nor the funding amounts from HSBC and Beechbrook, were disclosed in a statement from Clairfield. Cott, meanwhile, acquired the business in 2014 for $80m.
Aimia Foods management team, including MD Paul Whitlow, will remain in place, while Rob Unsworth will come on board as chairman.
“I am delighted that once again Aimia has been bought back under family ownership,” Mr Unsworth said.
“We will also continue to support the strategic direction of the business, which is driving growth through the manufacturing and sale of branded goods within the beverage category both in the UK and overseas.”
The portfolio also consists of the Milfresh brand of milk, Shmoo milkshakes, 1883 syrups, Freshers juices and Drink Me Chai tea and coffee alternatives.
Other licensed products with Mars include Celebrations and Galaxy chocolate drinks, Galaxy ice-cream mixes and M&M’s cookie mixes.
Employing around 300 people, Aimia Foods supplies the retail and foodservice channels, along with vending and cash and carry operators from three factories in Haydock. The products are also available online through its own website.
Andy Oates, a regional head of corporate finance at HSBC, said: “We were delighted to be given the opportunity to support Rob bring Aimia back into his family ownership.
“We are really excited about the future Aimia has 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, added: “From the outset, we recognised 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 seeing them develop the group further as a result of our investment.”
