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A Successful Relationship

Food and Beverage Case Studies

Greg Wank, Practice Leader, Food and Beverage Industry Group

Food and Beverage Case Studies

Beverage Company (New York, NY)

  • Retained to prepare tax returns and provide consulting
  • Advised on opening of production facility and assisted in obtaining tax credits from NYC
  • Advised on entity structure for new wholesale operations
  • Assisted company with conversion to GAAP reporting and guided them on first formal financial statements
  • Advised on employment contract for new COO
  • Provided recommendations and assisted company in obtaining enhanced bank financing
  • Assisted with developing Key Performance Indicators for their business
  • Consulted on overall sale strategy
  • Company received an offer from large natural food company
  • Assisted with due diligence process
  • Consulted on tax structure of proposed sale and contributed to goal of closing
  • Handled tax work for co-founders including post transaction to date
  • Provided post-closing consulting in relation to earn-out provisions of sale resulting in additional proceeds to sellers

Organic Food Company (New York, NY)

  • Retained to provide consulting services: monthly financial reporting, internal accounting controls, revenue recognition, cash flows, operational efficiencies
  • Assisted with developing Key Performance Indicators for their business
  • Conducted successful search for corporate controller
  • Advised to complete an opening balance sheet audit in contemplation of a potential transaction
  • Company received an offer from a major multi-national food company
  • Completed audit on an accelerated basis as audited financial statements were necessary to close the transaction
  • Consulted on tax structure of the transaction and tax treatment of stock-based compensation/stock options and warrants
  • Assisted with diligence process
  • Owners of company continue in C-Suite Level positions in the company
  • Maintain an ongoing advisory relationship with the clien

Supermarket (New York, NY) 

  • Retained to audit the company’s semi-annual and annual financial statements and tax returns
  • Assisted management in the analysis and negotiations of several major long-term supplier agreements that had a significant impact on future operating performance
  • Consulted with the Board and executive management on the structure and substance of deferred compensation arrangements with key executives
  • Performed financial analysis and due diligence procedures with respect to various potential acquisitions
  • Advised management on the structuring of a new business entity that will generate significant accretive income
  • Conducted the successful search for a corporate controller
  • Performed a formal review of internal controls of disbursements and made recommendations for improvement to management and the Board
  • Assisted management in analyzing and negotiating line of credit and equipment financing arrangements with banks
  • Recommended and worked with a consultant to restructure the insurance program resulting in substantial cost savings
  • Consulted on various financial, tax and business matters occurring throughout the year

Restaurant (New York, NY)

  • Retained to prepare tax return, provide tax advice, assist in "clean up" of accounting records and provide ongoing input into operational improvements
  • Assisted in structuring of new restaurant opened with different partners in different state
  • Brought them into compliance by entering them into NYC Voluntary Disclosure program
  • Successfully handled ongoing sales tax examination reducing liability substantially from original assessment of over $1 million
  • Advised on proper corporate structure for new national concept to provide scalability
  • Improved tips management and compliance at minimal cost
  • Reviewed existing partnership agreement and advised on improved and more equitable allocation model

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