2012

Year

Consumer & Retail

Sector

Hancocks Group Holdings Ltd

Client

H2 Equity Partners

Acquired By

Hancocks Group Holdings Ltd / H2 Equity Partners

Cavendish Corporate Finance LLP is delighted to announce the sale of Hancocks Group Holdings Ltd, the specialist confectionery wholesaler to a management buy-out backed by Netherlands headquartered H2 Equity Partners.

Hancocks was established in 1962 and today has 18 cash and carry depots across the UK, stretching from Glasgow to Portsmouth with turnover of some £100 million.

Hancocks sells a substantial range of ‘pick ‘n mix’ sweets under its own brand, ‘Kingsway’, in addition to its more contemporary children’s favourites and a wide range of other leading confectionery brands. Confectionery has proven to be a highly resilient sector, with consumer demand remaining strong during recent years in conjunction with the resurgence of traditional sweets.

Cavendish worked with the management team to prepare Hancocks for a private equity backed management buy-out, including assisting the team in the preparation of a detailed business plan and forecast models.

Following a competitive process run by Cavendish, H2 was selected as preferred bidder, principally on the basis of its specialist knowledge of the wholesale sector and its approach to the Hancock family shareholders. A debt and mezzanine financing package was provided by Investec Bank.

Cavendish Partner Jonathan Buxton, said;

“This truly was a sweet deal! From the outset, H2 showed an understanding of the wholesale sector and an appreciation of Hancocks and its family roots. I am delighted that we could put together a transaction which resulted in such a supportive home for the Hancocks business and the management team as well as meeting all of the Hancock family’s aspirations.

 

Key Contacts

Jonathan Buxton

Partner & Head of Consumer

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James Ellis

Partner & Head of Industrials

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