Well-Known Wholesale Food Distributor For Sale w/ Real Estate- SOLD

Price: $3,100,000

Location: Jersey City, NJ

Industry: Wholesale Food, Distribution

Listing ID: BAE201502


Listing Description

Business Description:

This Company is the most important wholesale food distributor in Jersey City NJ because of its strategic location. Their distribution center location allows them to provide fast and excellent quality products and services to their customers. This business is currently serving the entire  NJ/NY Metro area. While the majority of customers are restaurants and commercial sites, the 3000 sq.ft. cash-and-carry also attracts retail customers. The product mix is aligned with the local needs, but also includes a private label brand of Italian goods.

Impeccable quality and reliable service has been the main driver for customer loyalty and consistent profitability.  The owner feels a responsibility to the customers and to the legacy of the business and will help the new owner ensure a successful transition.

 

Listing Details

Gross Revenue:$ 8,900,000
Cash Flow:$ 1,000,000
FFE:$ 600,000 (Included in Price)
Real Estate:$ 1,200,000 (Included in Price)
Inventory:$ 300,000 (Included in Price)
Form of Ownership: S Corp
Terms and Conditions: Negotiable
Reason for Sale:

Retirement

Training & Support:

Complete training and Support included for up to 3 months

 

Historical Summary:

The distribution business in this location has been operating and serving the community of retail, restaurant, and commercial customers since 1996. When the current owners purchased the business in 2006, they maintained the existing customer base and grew the business into the stable and profitable business that it is today.

Owner Qualifications:

Food Business Experience

Competition:

No Local Competitors

Potential Growth:

Jersey City is undergoing a massive re-development project through 2030.  A mix of commercial, residential, and amusement projects will draw an enormous number of customers; requiring local wholesale food service serve the growing needs.  The company is perfectly situated to take full advantage of the rapid growth. In addition, the owner maintains excellent relationships with existing customers, but a sales-oriented new owner has the potential to grow the business substantially.  The adjacent lot may be used for expansion or a strategic real estate development.

 

Financing/Terms:

Seller financing available to well qualified and experienced buyers.

LocationOption: 
Square Footage: 9600
Type of Location: Stand Alone
Facilities:

Two lots and warehouse buildings. And a Cash and Carry storefront including all necessary freezers and refrigerators.

OperationYear Established: 1996
Days & Hours of Operation:   Order, Packing, and Delivery: 12PM -7AM — Retail Store 7am-5pm
Owner Hours:50
Employees:15
Managers:1
Absentee Owner: No

Listing Details

Total Sales: $8,900,000

Cash Flow: $955,001