Spayne Lindsay & Co. advises on the sale of Hancocks Holdings to Innovative Bites.
Spayne Lindsay is delighted to announce that it has advised H2 Equity Partners (“H2”) on the sale of Hancocks Holdings (“Hancocks”), the UK’s leading confectionery specialist with approximately £150 million sales, to Innovative Bites (“IB”).
Having acquired the business from the Hancocks family in November 2012, Hancocks has evolved significantly under H2’s ownership. Developing Hancocks’ breadth of services and routes to market has been accelerated through the acquisition of JTS (2014), UK Sweets (2015) and Bobby’s (2016). Today it supplies a broad range of customers via its network of 20 cash & carry depots, a direct distribution business servicing multiple retailers, its own van sales fleet and two online platforms.
IB is a leading importer and wholesaler of American food products. Hancocks is a highly strategic acquisition for IB with the combined group selling to over 40,000 customers.
Simon Gilbert at H2 Equity Partners commented:
“We hired Spayne Lindsay based on their consumer sector expertise and reputation for deal execution, and they certainly lived up to our expectations. The team of Jonathon Martin, Robert Horton and Nick Anderdon provided us with excellent advice and support throughout the transaction and were consistently engaged at all times. Their sector knowledge and experience of managing deal issues were invaluable and enabled us to achieve a very successful outcome. We look forward to working with them again in the near future.”
Wayne Beedle, Hancocks CEO commented:
“The professionalism, intelligence and energy shown by the Spayne Lindsay team ensured we delivered an excellent result. Their sector knowledge and know-how were instrumental in shaping a complex and compelling business plan. The service delivered was best in class and they were a pleasure to work with.”