With a heritage in flour milling dating back to 1857 Bowman, now managed by the fifth-generation, diversified successfully into the ingredients market in the early 1990’s manufacturing bread-crumbs, batters and marinades for major blue chip food groups.
The success of its strategy led to expanding to new markets in South Africa, Australia and Thailand as well as investing in new market leading production facilities in the UK.
The focus on the ingredients division and consolidation in the UK milling sector made Bowman question the long-term prospects of its milling and heat-treatment division and following a strategic review process, management decided to divest some of its operations selling its Whitley Bridge flour heat treatment plant to Whitworth Bros. Limited.
The deal frees up resource and management time for further investment and focus on the successful ingredients business to strengthen Bowman’s position in the global food coatings market. It also secures the future of the heat treatment plant within Whitworths' already large and successful milling operation further enhancing its offering.
We advised the shareholders of Jas Bowman & Sons Limited on assessing strategic options and executing the divestment strategy. We project managed the entire process, seeking potential buyers, structuring the deal, and leading negotiations to maximise shareholder value, resolving issues arising out of negotiations and due diligence to complete the transaction in a short time and ensure a smooth transition process.
Grant Thornton's thorough understanding of our businesses enabled the Board to assess and execute what we believe is the best strategy for our Company's future. The team were high calibre and committed, and they understood the challenges associated with the exit of a long established family business. We look forward to building on this relationship as we grow our Ingredients business in the future.
Rory Bowman CEO, Jas Bowman & Sons Limited
