Irwin Mitchell Corporate Team Advises On The Deal
Coventry-based Arden Fine Foods has been acquired by its management team for an undisclosed sum in a deal led by its managing director and finance director.
The acquisition of the supplier of biscuits and bakery products was completed with funding from Barclays Corporate Team.
The current shareholders of Arden will retain a significant financial interest in the business whilst Arden’s executive chairman, Gary Barr, has exited the company.
Arden, which was established in 1991 and has a turnover in excess of £20m, works with food manufacturers globally to develop sweet and savoury biscuits and other seasonal products which are then supplied into multiple UK retailers and many other channels.
Nick Dawson, partner, and Matt Smith, associate, from Irwin Mitchell’s Corporate team provided legal advice to the vendors.
Matt Smith at Irwin Mitchell said:
Expert Opinion“Arden is a great example of an innovative food business which has in a relatively short period of time established a strong reputation in the UK’s retail and grocery sector. We are very pleased to have worked on this deal and wish the new management team well for the future.” Matt Smith - Associate Solicitor
Springboard Corporate Finance advised Arden. Tax advice was provided by Claritas and the Barclays' team was led by Neil Barnes of its Birmingham Corporate Centre.