Step Advisory facilitated a revisit of the strategy in a way that took into account their new reality and all the perspectives of their various stakeholders.
Agro-Serve (the company that owns the Efekto and Wonder brands) exhibited strong performance prior to Covid. Following this, the positive consumer trends observed in the garden and home care markets during the Covid-19 pandemic drove even greater growth and opened its eyes to the true potential in the market. This, in tandem with private equity shareholders looking to position the business for sale in the medium-term, required the business to consider and formulate a cohesive strategy and desired growth trajectory.
The Step team used their unique strategy facilitation process to first understand the market Agro-Serve plays in and the unique perspective of each of the individuals involved in the process.
Following this, a series of workshops were held to imagine and design the future that the team wanted to create.
This was then presented and further workshopped with the shareholders to ensure their buy-in and include their contribution.
While the ultimate impact of the strategy will only be known in a few years, there were encouraging results from this process. The team agreed on an overall purpose for the business that the shareholders see long term value in and that resonates with the leadership of the business. The opportunities plotted across the various time horizons gave the shareholders comfort in the direction the business is heading. The team is excited about the clear direction they now have in their chosen market with themes and objectives allocated to the senior leadership and a deep sense of what needs to be done, both in the long term and in the next quarter.