Addleshaw Goddard has advised the largest importer of American food products in Europe, Innovative Bites, on its acquisition of Hancocks, one of the UK’s leading confectionery specialists, from H2 Equity Partners and management.
The deal is the second major acquisition by Innovative Bites in the last 12 months, with the combined group selling to over 40,000 customers and offering more than 7,000 confectionery products.
Specialising in the wholesale of confectionery to independent retailers and other businesses, Hancocks offers in excess of 5,000 branded and own label products across 20 UK sites, stretching from Dundee to Portsmouth.
Since launching in the UK 2008, Innovative Bites has expanded its business rapidly and now boasts over 3,500 products, 7,000 retail customers and several top-selling house brands, including Bonds of London and Baking Buddy ‘Mega Marshmallows’ – as well as exclusive distribution brands like Twinkies, Warheads and Trolli.
Innovative Bites was advised on the transaction by Houlihan Lokey (M&A and debt adviser), Addleshaw Goddard and BDO.
The transaction was delivered by a cross-disciplinary team led by banking partner Laurie Keel and corporate partners Andrew Rosling (picture) and William James. They were supported by Legal Director Geoff Yates, Managing Associate Sophie Old and associates Tim Trueman, Laura Moss and Angus Hortop.
Law Firms: Addleshaw Goddard;
Clients: Innovative Bites;