Having worked for over 60 years to develop America’s favourite mash potato, Idahoan has achieved near unrivalled success in the US retail space.
They took the strategic decision to expand their business into the UK and, having already invested significant resources into changing the product recipes and packaging to meet UK tastes and regulations, Idahoan contacted Menzies LLP to support them with its transition into the UK market.
One of the key aims for Idahoan was to test the UK market by supplying through the US company to see if their product would be popular with an overseas consumer market. If this product test was a success, then the intention was to open a UK subsidiary, which would both package and supply the product to the UK market.
Supporting an international business expansion through Brighter Thinking
Following an introduction to Menzies International Retail specialist Martin Hamilton, Idahoan outlined their objectives and the challenges they believed they may face by expanding into the UK market.
During these discussions Martin explained how Idahoan might choose to set up and operate in the UK and how they might avoid putting their US financial statements into the public domain.
After raising the issue of VAT and Duty, Martin then introduced Idahoan to the Menzies VAT team who helped the business complete their registration for VAT, correctly complete their Freight paperwork and produce compliant sales invoices.
Following the successful product introduction to the UK, our team worked with the company’s US advisors to agree a group structure which would provide tax efficiencies in both the US and UK.
Further support was given in the development of Idahoan’s transfer pricing position to cover the use of the brand in the UK and also the sale of products to the UK subsidiary.
Our BrighterThinking also extended to making introductions to UK banks and advice regarding Idahoan’s responsibilities in relation to UK employment. This included introductions to Menzies Payroll, HR services and Menzies Wealth Management (for pension’s advice) teams.
The hard work pays off for Idahoen
Having assisted Idahoen on their international journey into the UK is was a privilege to see Idahoen gain further recognition at the 2019 BritishAmerican Business Transatlantic Growth (TAG) Awards.
The awards celebrate the Transatlantic Trade and Investment relationship and the opportunities for SMEs to MNCs that invest in the transatlantic economy to grow, prosper and create jobs on both sides of the pond.
Facing stiff competition in the ‘US SME in the UK’ category, Martin Hamilton was thrilled to be able to accept the award on behalf of Idahoen.
“This award is a testament to the hard work and dedication Idahoen have shown in their expansion into the UK and Menzies is thrilled to have seen their transition. We look forward to the next stage of our journey together.”Martin Hamilton – International Retail Specialist
Looking to expand your business horizons?
We love working with Idahoan and we’re proud to have supported them throughout their expansion into the UK retail market. Whether you need an agile format, whilst you are testing the UK market, or wanting to fully expand into the UK, Menzies can provide comprehensive assistance in all areas to ensure nothing is missed and you – the client obtains – the best advice from experts who are familiar with International business in general and the Retail & Wholesale market specifically.