Acuity Closes On The Sale of Hereford Contract Canning (HCC) LIMITED
Acuity has advised the shareholders of Hereford Contract Canning (HCC) Limited (HCC) on their sale of a majority interest in HCC to Rutland Partners, a private equity investor, known for investing in UK headquartered businesses worth £20m to £150m. The deal was the product of two years of negotiations and hard work, and will see the founders of HCC retaining a minority interest in the new private equity ownership structure and playing a key role in the continued growth of the business.
HCC is the second largest contract canning provider in the UK, manufacturing and packing alcoholic and non-alcoholic beverages for a wide range of domestic and international customers, including Kopparberg, the Swedish fruit cider giant. HCC regards itself as being known for producing quality products as a result of its strong operational capabilities, state of the art packers and highly skilled and experienced work force.
Corporate partners Steve Berry and Phil Pugh together with associate Tom Saunderson lead on the transaction, with cross practice support from Craig Griffiths and Lowri Morgan (Commercial), Damien Cann (Commercial Property) and Rachael Russell (Employment). Adam Street Advisers provided corporate finance advice to HCC.
Phil Pugh, Partner at Acuity Law said "it was a real pleasure to have worked with the team at HCC and to have reached a successful completion on this transaction; this was a real team effort, requiring a multidisciplinary approach, and is a testament to the 'can do' attitude of the Acuity team".
Lead adviser, Andrew Barnsley, Managing Partner at Adam Street Advisers said of the deal: “We are confident, that after a lengthy and very competitive process involving a number of private equity and trade buyers, we have managed to secure an excellent financial outcome for our Clients. It is the second time that we have acted for the the shareholders of HCC selling their business".
