Leading national law firm Mills & Reeve has advised Langholm Capital on the acquisition of 120-year-old family-run Purity Soft Drinks.
Langholm, the consumer sector mid-market private equity firm whose investments include Tyrrells Potato Crisps, The Bart Ingredient Company and Dorset Cereals, acquired Purity following a management buy-in.
Originally established in 1892 when horse-drawn drays supplied soft drinks to the licensed trade around Wednesbury in the West Midlands, Purity has been run by the Cox family since 1944. Under its Masons brand it runs one of the last remaining returnable-bottle soft drinks operations in the UK, while its Juice Burst brand has developed a wide range of 100 per cent juices stocked widely throughout the UK.
Anthony McGurk, Mills & Reeve partner, said: “This deal is another great example of our strong work in the food and drink sector where we are proud of our longstanding reputation for providing robust and practical advice to a broad range of clients. It’s certainly an exciting and dynamic sector to be involved in, with businesses involved in delivering food from ‘plough to plate’ facing a range of challenges, such as volatile commodity prices and exchange rates.”
Oliver Wyncoll, a partner at Langholm Capital, added: “We were delighted to be able to turn to the experienced Mills & Reeve team for advice on our latest acquisition in the consumer sector. Anthony’s knowledge, and that of his team, helpfully ensured the deal ran smoothly.”
Hawkins Hatton offered legal advice to the Purity Soft Drinks shareholders and Travers Smith advised the buy-in management. HSBC provided the debt package for Langholm Capital from its Birmingham office.
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