Doubling Turnover in a Business We Acquired
In 2022 we acquired a business in the food manufacturing space (Bakery). One of our products is Pizzas which we sell into the catering, retail, hospitality space. One of our drivers when acquiring a business is not just to sit back once the deal is done but to ensure management have a plan in place to grow the business both organically and through acquisition. The MD of this business has share options which gives him a long term, vested interest to build something larger. This month revenues will be £550k, up from the previous £440k record, putting turnover on track to be £6M, almost double what is was in the year prior to our acquisition and making the business much more profitable (and more valuable) than it has been. The MD has a solid plan, is commercially focused, and here are some images from the production facility for one of the new contracts he has secured. Every month we meet (on Zoom) to discuss the business plan, review the numbers and hold him accountable. This form of accountability works very well, ensures we are kept up to date with progress and its great to see progress in this business. Be interested to hear how you manage your companies that you have bought or how you would if you haven't yet bought a business.