Deal To Create One Of Europe’s Largest Producers Of Dried Fruit, Nuts And Seeds
Irwin Mitchell’s Corporate division has completed a deal which has seen Whitworths, an iconic brand in the world of dried fruit, nuts and seeds, change hands.
The leading law firm acted for Turkish based company, Anatolia AS, to acquire the entire issued share capital of Whitworths Investments Limited, the holding company of Whitworths Limited.
Based in Northamptonshire, Whitworths was founded in 1886 and supplies branded and own-label products and has around a 30% share of the market. Back in 2013 in a deal which valued the business at £90m, a major stake of the business was sold to private equity firm Equistone Partners Europe.
This transaction will result in Whitworths merging with Anatolia to form one of the largest producers of dried fruit, nuts and seeds in Europe. The existing Whitworths management team will continue to lead the UK business.
A spokesman for the group said: "This is an exciting opportunity for Whitworths and one that will bring long term benefits to our consumers, customers and suppliers and we look forward to sharing the plans on the next stage of this journey."
Irwin Mitchell Corporate partner Nick Dawson led the deal and was assisted by solicitor Matt Smith. They were supported by a multi-disciplinary team including Elizabeth Maloney, Conor Brindley, Siobhan Mulrey, Mark Evans, Nigel Bolton and Rajinder Sanghera.
Expert Opinion“Anatolia understand the sector and the Whitworths business very well having had a trading relationship dating back almost 40 years. Whitworths is very well established and has an iconic brand which I am confident can be developed further under the new ownership.
“I am delighted to be involved in this transaction and extremely proud of the Irwin Mitchell team which has delivered this transaction within very tight timescales and provided a successful outcome for our client.”
Nick Dawson - Partner
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