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Food Importer And Distributor
Location California,United States
Asking Price Range $10.0M - $20.0M
Gross Revenues $107000000
Net Profit / Cash Flow $6300000
Cash Flow Type EBITDA
Seller Finance Not Disclosed
Year Established 1980
Number of Employees 50 - 99
Relocatable Not Disclosed
Number of Employees 50 - 99
Real Estate Owned
Description Food Importer & Distributor (Fish & Seafood imported worldwide and distributed nationally)
This Company is headquartered in Southern California and maintains facilities in four states reaching to the east coast. The Company is a leader in supplying seafood and meat products to hotels, restaurants and retail stores throughout the Southwestern United States. The Company has approximately 660 clients with the largest accounting for less than 1% of revenue. Since the early 90's the Company has grown twelve-fold by procuring high quality products and servicing clients with timely delivery at the least possible price.
The seafood industry has evolved in the past 60 years from "seafood from the sea" to more and more "seafood from farms" and the Company imports from suppliers worldwide (with 70% being farm raised and 30% ocean caught). This has brought about more reliable quantities of product on a year-round basis. It has instilled in domestic and overseas suppliers the need for high quality product, packaged and delivered in a timely manner. The Company processes some fresh product (i.e. turning whole fish into filets) and sells roughly 80% frozen fish and 20% fresh fish.
The margins are starting to increase now that they've built additional cold storage locations. They will be relocating their main facility to a larger facility as well to reduce the costs associated with renting cold storage and handling/trucking product too frequently.
As of October 15th, 2012 the Company is rolling out a new program and supplying frozen fish to a multibillion dollar merchandise and food retailer. The first order is for 300,000 pounds of fish ($1.8 million order) and is a new product line for this particular food retailer. If this new customer relationship goes as planned the Company will provide them with a minimum of 3 million pounds ($18 million) of fish the first year.
The price of the Company is $15M for the entire business (all entities). The buyer then gets
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