Bristol-based wholesale food firm Charles Saunders has taken over Good Morning Foods and Good Morning Disposables, also based in the city, for an undisclosed amount.
The acquisitions, completed with support from Santander Corporate Banking, extends Charles Saunders’ existing offering and enable it to continue to develop its growth strategy.
Charles Saunders distributes fresh and frozen food across the South West while Good Morning Food and Good Morning Disposables operate in the Midlands and South Wales, as well as the South West, providing chilled foods and a range of disposable products to the catering trade, such as tableware, crockery and cutlery.
Good Morning Disposables is a family-run business, founded in 1981 and managed by the current owner, who is now retiring.
The combined businesses will continue to operate from their existing sites – Charles Saunders on Albert Road and Good Morning Disposables on the Netham Industrial Park.
Charles Saunders managing director Darren Gaulton said: “We have been in the business of wholesale food for more than 50 years, so we know the market pretty well.
“We think Good Morning Disposables fits extremely well with our existing model. The acquisition will allow us to move into a new market and expand our reach into the Midlands and South Wales, as well as the South West.”
He praised Santander Corporate Banking’s Bristol team for securing appropriate funding for the acquisition, as well as a suitable package for the firm’s banking requirements.
Santander Corporate Banking relationship director Jo Norton added: “Charles Saunders is a well established business, with a strong management team and a clear strategy for future growth.”
She said Santander was committed to building long-term relationships with business customers in the South West and was keen to become the bank of choice for businesses. “Our relationship with Charles Saunders is a great example,” she said.
Stephen Morse and Henry Taylor of Michelmores Solicitors acted as the legal advisers for the bank with Richard Hopkins of Roxburgh Milkins acting for Charles Saunders, with Mike Neale and David Roper of Nexia Smith & Williamson also providing advice on the transaction.
