The deal
- Acquisition of non-core division of Northern Foods Plc
- Backing an experienced confectionery management team
- Asset purchase
- Buy and build platform
The company
- Manufacturer of Fox’s Glacier Mints, Just Brazils, Poppets and XXX Mints
- Well invested factory
The strategy
- To consolidate the fragmented UK confectionery business
- To drive growth in well known but under invested brands
- To develop new products using existing brands
Investec’s role
Investec Growth & Acquisition Finance had worked with the management team in sourcing buyout opportunities in the food sector for six months. This deal arose and had to be completed in a two month window. Investec promptly issued terms to fund the senior and mezzanine debt and underwrote the entire equity requirement not put forward by the management team. Investec then invited a few select high net-worth clients to co-invest. This quick, fully funded offer enabled the deal to complete in the given timeframe.
www.foxs.co.uk
Equity | Mezzanine finance | Asset based lending | Integrated finance
MBI