A commercial and constructive approach

Article Abstract:

Witford Food Products is a UK producer of food coatings which was set up by Bruce Overton and David Osborne. Overton sold the company to Osborne, and the case illustrates the need for law firms to be pragmatic in handling acquisitions. The vendor's position in this acquisition was entrenched, and a tentative agreement was made accepting his requirements in order to begin the deal. The terms for redeeming loan stock formed an interesting aspect of the deal. The purchaser finally agreed to try to redeem the loan stock in the time stipulated by the vendor, leaving some room for manoever.

Food & Kindred Products, Food Manufacturing, Mergers, acquisitions and divestments, Food industry, Witford Food Products

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Looking further than the deal

Article Abstract:

Many companies fail to invest sufficient resources and planning in managing a company which they have just acquired. It is vital to have a clear strategy for the acquired operation, to implement this strategy effectively, to ensure that information is disseminated effectively and to address human resource issues. A key area is to reassess synergies between the two operations, as these are very hard to identify before the acquisition actually takes place.

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