30 Year Old Specialty Food Manufacturer + Distributor
Located in Southeastern U.S. w/ 31% Revenue Growth Over 2 Yrs, Long-Term Quality Staff & New, Custom-Built Facility
The company is a successful business for over 30 years, selling handcrafted cotton candy and red candy apples to the Eastern portion of the US. It is currently up for sale to qualified buyers exclusively through Raincatcher. Cotton candy and candy apples are part of the confectionery industry, which is a $79.35 billion global market that is expected to register a CAGR of 3.5% between 2018 and 2023. North America dominates this industry, generating more than 7.7 billion pounds of candy each year. The company is the market leader within its state, and it is experiencing year over year growth both within its state and the region. The company provides an excellent opportunity for a buyer to enjoy predictable cash flow and a swift return on investment.
The company's products are sold to wholesale, retail, and online buyers. Unlike other cotton candy manufacturers, the company packages its products in clear plastic bags. This packaging adds nostalgia and also allows customers to see exactly what they are getting when they purchase the product. Since buying the company in 2015, the company’s current owner has doubled the volume of sales. For that reason, the company expanded into a custom-built manufacturing facility in 2017 in a cooperative endeavor with its landlord, causing some growing pains for that year, but setting the company up for tremendous success thereafter. The company manufactures their products in-house at their new facility and then distributes to wholesalers in the Southeast region. Customers can also purchase products online or by visiting their manufacturing plant in Summerville, SC.
The company does not carry any long-term debt and provides a great opportunity for an individual or company interested in getting into the confectionery industry or expanding their current reach in this lucrative market.
Purchase Considerations
- A well-established business of over 30 years.
- Long-term, quality staff that handles operations with minimal supervision.
- The company's revenue has grown at an annual rate of 31.3% between 2016 and 2018
- With its new facility, the company has the capability to more than double its revenue before increasing its manufacturing capability further
- Opportunity for strong margins.
- Substantial growth potential through online marketing.
The company is wholly owned by Kelli M. Garrett who plans to exit the industry following the transaction. Kelli is willing to stay involved for a period of time after closing to assist the buyer with transitioning the business.
Negotiable