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Food & Beverage

3V / Meridian Sold to SHS Group

Date
February 2018
Transaction Type
Strategic acquisition
Value
Undisclosed
Sold to
Company brand product
Company brand product
Company brand product
Company brand product
Company brand product
Back to transactions
Food & Beverage

3V / Meridian Sold to SHS Group

Date
February 2018
Transaction Type
Strategic acquisition
Value
Undisclosed
Sold to
Company brand product
Company brand product
Company brand product
Company brand product
Company brand product

Transaction
Overview

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.

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