JM Posner Limited, a leading UK-based supplier of specialist ambient baking and dessert ingredients for the food industry, has been acquired by Ingå Group Limited. The shareholders of JM Posner were advised by Initium Corporate Finance throughout the transaction.

First established in 2009, with premises near Mansfield, Nottinghamshire, JM Posner specialises in the supply of own brand and branded ingredients in categories including sweet spreads and sauces, chocolate, confectionery, dessert mixes, toppings, baking ingredients, ice cream consumables and savoury sauces.

“Initium have been a true partner for us. The expertise, wisdom and deal-making experience brought by the Initium team was invaluable” – Tim Hills, Managing Director, JM Posner

A dynamic, fast-growing business, JM Posner’s team service over 10,000 customers across the food industry, including food producers, restaurants/cafés and foodservice suppliers, growing 30% YoY since 2021 in both online and offline sales. Sourcing from select global partners, JM Posner is a Rainforest Alliance certified business & holds AA level BRCGS (Brand Reputation through Compliance Global Standard) certification for food storage and distribution.

Ingå Group is a growing family of autonomous ingredients businesses actively investing in businesses delivering sustainable future food, the group is committed to long-term value creation and having a sustainable positive impact across the food value chain. JM Posner joins clean label ingredients specialist Ulrick & Short, French specialty functional ingredients for culinary artisans and food producers, Louis François, UK based speciality restaurant & foodservice supplier, MSK Ingredients & technical ingredients distributor, Verdant Ingredients.

The Ingå Group is in partnership with and majority owned by Novax AB, the investment company of the Stockholm-based, €15bn revenue Axel Johnson Group, founded in 1873 and owned & run by the 4th and 5th generation of the Swedish Johnson family.

Deal commentary

Adrian Short, CEO, Ingå Group said: “JM Posner is a fantastic business with a great product offering & team to back it up. From the start it was clear that our values and aspirations very much aligned, and we are delighted to welcome them to our family. Respecting the already fantastic business that has been built by the team since 2009 and all the capabilities, knowledge and expertise that comes with them, we look forward to working together with Tim & the team to help reach their potential to create sustainable value for customers, the JMP team & our group alike.”

“Initium guided us through the complexities, and we feel confident they helped secure us the best possible terms and ultimate home for our company” – Tim Hills, JM Posner

“We will continue our journey to partner with businesses that have a long-term future, going into sectors which will represent sustainable food manufacturing & development to have a lasting positive impact on the entire food value chain – from Michelin star chefs to food manufacturers.”

Commenting on the transaction, Tim Hills, Managing Director, JM Posner, said: “JM Posner is an entrepreneurial family business, and we are exceptionally proud of the brand and its strong growth in recent years. However, for the business to continue to thrive, we knew it was time to join a larger group, who could bring support, additional skills, resources, and a collaborative approach. We spoke to a number of interested parties, but Ingå Group stood out in terms of shared culture, approach and vision. With Ingå Group’s support, we will be stronger, and we will be able to take JM Posner much further together than we could have as a standalone independent. I know the team at JM Posner are really excited about joining the wider Ingå Group family, and the multiple opportunities this new partnership creates.”

“When we first started exploring a sale, we were personally recommended to Initium by our accountants” – Tim Hills, JM Posner

On Initium’s role in the transaction, Tim Hills added: “The expertise, wisdom and deal-making experience brought by the Initium team, led by Andrew Sims, was invaluable. From their friendly, professional approach, to their technical advice and support, Initium have been a true partner for us. They guided us through the complexities, identified a wide range of potential buyers in the UK and overseas, and ran a controlled, competitive business sale process that we feel confident secured us the best possible terms and ultimate home for our company with Ingå Group. When we first started exploring a sale, we were personally recommended to Initium by our accountants, who know the value of trusted advice. Appointing Initium has proven to be a great choice for our organisation; they not only delivered on their promises but also went above and beyond our expectations.”

Initium: food and beverage expertise

As an advisor, Initium has a particularly strong record in the food and beverage sector across its 35+ year trading history, to major acquirers including Associated British Foods plc, Bidfood, Dr Oetker, Total Produce plc (now Dole UK), SHS Group and Vestey Foods. Other notable food transactions led by Initium include the sale of plant-based ingredients specialist Vegetarian Express, baking and cake decorating business Rainbow Dust Colours, and private equity investment in bakery chain Coopland and Son Limited.

Alongside Initium, the shareholders of JM Posner received legal advice from Helen Mead and team at DMH Stallard.

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