Disposal of a Majority Stake in 3V Natural Foods Limited to The SHS Group

DATE
February 2018

TRANSACTION TYPE
Corporate Aquisition

VALUE
£ Undisclosed

SECTOR
Food & Beverage

Spayne Lindsay & Co. advises on the sale of a majority stake in 3V Natural Foods Limited to The SHS Group.

Spayne Lindsay is delighted to announce that it has advised on the sale of a majority stake in 3V Natural Foods (“3V”), one of the UK’s most exciting healthy food and beverage groups that includes Meridian, the UK’s #1 nut butter brand, and Rocks, the leading UK organic squash brand, to The SHS Group, subject to clearance from the Irish Competition and Consumer Protection Commission (“CCPC”).

With a heritage in speciality nut butters, Meridian has experienced transformational growth in recent years, driven by an on-trend proposition that offers premium, natural nut butters free from palm oil to customers in the UK and internationally. In turn, the UK nut butter market, estimated to be worth £120m, is growing at c.20% annually as more consumers enter the category and eat nut butters across a range of usage occasions. Meridian’s vertically integrated business model has enabled an excellence in innovation and the development of exciting new products such as a cocoa & hazelnut spread and a range of nut-based snack bars.

Rocks is a premium, organic drinks brand with a 35-year heritage that continues to outperform the UK market. Rocks’ products resonate with consumers looking to avoid artificial sweeteners and seeking clean-label, organic products without compromising on taste.

Spayne Lindsay advised the shareholders on the transaction, having begun the search for a partner to help them achieve their plans for the business in 2017. Following discussions with a variety of potential investors, SHS Group was selected as the preferred partner, whose strengths and values were best aligned with those of 3V.