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MBH EXTENDS FOOTPRINT IN THE UNITED STATES WITH ACQUISITION OF BOULDER SAUSAGE - A LONG ESTABLISHED, COLORADO BASED COMPANY

·4-min read

DGAP-News: MBH Corporation Plc / Key word(s): Investment
15.02.2021 / 08:50
The issuer is solely responsible for the content of this announcement.

MBH EXTENDS FOOTPRINT IN THE UNITED STATES WITH ACQUISITION OF BOULDER SAUSAGE - A LONG ESTABLISHED, COLORADO BASED COMPANY

London, 15 February 2021, MBH Corporation plc (MBH), a diversified investment holding company, is making its third US acquisition in 6 months by taking on Boulder Sausage, a long established Colorado based, premium quality sausage and bacon manufacturer. Boulder Sausage becomes MBH's 24th portfolio company following the company making 12 acquisitions in 2020. This latest acquisition establishes a new vertical as MBH's first food manufacturing company.

MBH Corporation plc is furthering its United States footprint today with the acquisition of Boulder Sausage, Colorado's number one sausage brand. Boulder launched over 50 years ago and has been committed to the same sausage recipe ever since, alongside additional firm commitments to using the highest quality and freshest ingredients possible with minimal processing.

Boulder Sausage becomes MBH's third acquisition in the US following the Group acquiring 'Meeting of the Minds' and 'Everyday Realty Services' in September 2020. Like those two acquisitions, Boulder Sausage shares similar growth ambitions as they look to evolve their sales streams.

Analysisof consumption data reveals over a third (36%) of the US population ate more than 2lbs of sausages in 2020 with 13.65m of them (4%) consuming 5lbs or more of sausages in the same year. With that, the appetite for sausages remains at an all time high.

Boulder is looking to grow through 2 channels:

a) Growth through e-commerce platforms to increase geographical reach beyond sales to brick and mortar retailers; and

b) Growth through acquisitions which will allow them to diversify their product range and customer base.

For the year ending 31st December 2020, Boulder Sausage unaudited sales were US$4.8m with an EBIT of US$0.4m. Unaudited net assets as at 31 December 2020 were US$1.7m This acquisition is another EPS accretive for MBH.

The total consideration for the acquisition of GBS Partners (trading as Boulder Sausage) is approximately GBP2.1m to GBP2.6m which will be settled by way of a listed bond in accordance with the MBH bond programme with the following terms:

Jim Burton, CEO,CFO 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. With the additional prospect of new trade deals being brokered by our new administration, this is a timely moment to be joining a collaborative and varied Group like MBH."

Callum Laing, CEO MBH corporation plc, commented: "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. We are very excited about the opportunities in this new Food & Beverage vertical."

Notes to Editors

1. Analysis of U.S. Census data and Simmons National Consumer Survey (NHCS) calculated through statista.com

About MBH
MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt Stock Exchange and OTCQX in the US. The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent and accretive acquisition of excellent companies.
www.mbhcorporation.com

Contacts for IR and media enquiries:
MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953
Perception A, Phil Anderson & Charlie Nelson, phil@perceptiona.com, +44 (0)776 749 1519/+44 (0)7787 517 087


15.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

MBH Corporation Plc

Studio 7-9, Royal Patriotic Victoria Building, Joh

SW18 3SX London

United Kingdom

E-mail:

fo@mbhcorporation.com

Internet:

https://www.mbhcorporation.com/

ISIN:

GB00BF1GH114

WKN:

A2JDGJ

Listed:

Regulated Unofficial Market in Dusseldorf, Frankfurt

EQS News ID:

1168181


 

End of News

DGAP News Service

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