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Quantuma has advised the shareholders of Cornwall-based food manufacturer, Proper Cornish, on its sale to French food producer, Boncolac Group.
The firm’s managing director and corporate finance lead, Mark Lucas, led the sales process on behalf of the shareholders and was supported by associate director, George Jackson.
In this sale, the team advised the shareholders on the development of the business plan and undertook a strategic marketing process that identified Boncolac as the right buyer to help accelerate growth, retain the brand and its entrepreneurial ethos.
Proper Cornish, which is a manufacturer of frozen savoury pastry products, was founded in 1988 in Cornwall and has a loyal and diverse customer base, as well as a clear plan to continue its growth trajectory.
Meanwhile, Boncolac Group is a French frozen sweet and savoury baked products manufacturer with a diversified product portfolio, entrenched international commercial relationships, and a “highly dynamic and profitable” macarons division.
Chris Pauling, CEO of Proper Cornish, said: “Mark, George and the Quantuma team were simply brilliant to work with. They were an exceptional support through every stage of the process and made our job easy.
“They clearly understood our business and the market, which was reflected in the expertly written and designed marketing materials and their ability to generate lots of interest from potential buyers.”
He added: “They were on the front foot throughout and were instrumental in finding the best price and home for our business and getting the deal done. I’d thoroughly recommend them to any entrepreneur looking to raise investment or sell a business!”
Lucas said: “This transaction delivers continuity for Proper Cornish as part of the Boncolac Group, an ambitious Pan European buy-and-build project, and allows the sellers to secure the shareholder value created by Proper Cornish’s growth trajectory and investments.
“The Quantuma team is delighted to have advised Chris and Gerald on the sale of Proper Cornish. They have built an absolutely fantastic business, which has found a great home to continue its journey in the Boncolac Group.”
