Boulder Sausage, a US manufacturer of sausage and bacon for retail and foodservice, has been bought by London-headquartered MBH Corp., an investor in small- and medium-sized businesses.
MBH revealed in a statement it has acquired GBS Partners, which trades as Boulder Sausage, for around GBP2.1m (US$2.9m) to GBP2.6m, a transaction that will be settled via outstanding bonds.
Boulder Sausage, founded around 50 years ago in Louisville, Colorado, produces a range of sausage such as German and Italian varieties, along with bacon and chorizo. It counts US meat giant Tyson Foods as an ingredients supplier, as well as Seaboard Foods and Prairie Grove Farms.
Jim Burton, the founder of GBS Partners, and who is both chief executive and head of finance at Boulder Sausage, said: “My team and I are hugely excited about the scale of the opportunity joining the MBH family represents. We are ambitious for future growth and being with MBH opens up the possibility of smoother expansion into markets beyond the US, alongside acquisitive growth.”
In its financial year ended 31 December, Boulder Sausage generated sales of $4.8m and EBIT of $400,000. The company has assets of $1.7m.
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On the back of the investment, Boulder Sausage plans to increase its presence in e-commerce to diversify beyond traditional bricks-and-mortar outlets, and to spur growth through acquisitions.
MBH was founded in 2016 and is listed on the Frankfurt Stock Exchange in Germany and the OTCQX in the US.
Callum Laing, the CEO of MBH, added: "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. What Jim Burton and the team have created and fostered with Boulder Sausage, for over half a century, is remarkable and we're looking forward to helping them grow and continue their successful journey as part of our group."