Private Equity Acquisition
Food & Beverage
Spayne Lindsay & Co. LLP advises European Capital on the acquisition of Whitworths.
European Capital today announced the acquisition of Whitworths for £86 million on a debt-free, cash-free basis.
Whitworths is the leading UK branded and own-label supplier of dried fruit and nut based products used for healthy snacking and home cooking, and its products have been sold in the UK since the 1880’s.
Since being established by American Capital in 2005, European Capital is targeting a market-leading position in UK mid-market buyouts by 2008, and has invested over €900m to date, including private equity investments in Avery Weigh-Tronix and Farrow & Ball.
Spayne Lindsay was very pleased to be involved in the Whitworths deal, which lies in a very interesting segment of the consumer sector, where impressive growth is being achieved on the back of a fast-increasing consumer trend of healthier, convenient snacking.
Spayne Lindsay intends to invest alongside European Capital in this transaction and to assist, as appropriate, in the future expansion of Whitworths.