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March 2, 2021

MamaMancini’s seeking acquisition targets

MamaMancini's, a US-based supplier of Italian-style food, including pre-prepared, frozen and refrigerated food lines, has outlined its growth strategy.

By Leonie Barrie

MamaMancini’s, a US-based supplier of Italian-style food, is hitting the acquisition trail.

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The company has announced it has started a new programme to target and acquire “complementary food product companies” that are “immediately accretive and meet stringent sales criteria and other requirements”.

New Jersey-based MamaMancini’s, a marketer and distributor of pre-prepared, frozen and refrigerated food lines, said it has assembled an internal team to evaluate potential acquisition candidates, with a particular focus on companies operating in the perimeter of a supermarket – such as the delicatessen department, grab-n-go prepared foods and snack foods.

MamaMancini’s said it is targeting companies with sales in the US$12m to $20m per year range, generating positive EBITDA with a product that is “symbiotic to the company’s existing retail, club store and food service distribution network”.

Carl Wolf, the firm’s chairman and CEO, said: “With our strong cash position, positive cash flow, and recent sales momentum from major new commitments, we are ready to initiate a nationwide search for accretive acquisitions. We hope to acquire companies with complementary products in the months to come, which can be distributed nationally leveraging our broad reach and strong brand loyalty amongst consumers,” 

He said the company believes it can finance acquisitions through “leveraging our growing cash position, strong cash flow, zero non-lease obligations and significant debt financing commitments from commercial banks on attractive terms”.

In its latest full-year results, for the 12 months ended 31 January, MamMancini’s recorded sales of $34.8m, up from $28.5m a year earlier. Net income was up over the same period from $453,499 to $1.5m.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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