Food Group Newsletter
Total Page:16
File Type:pdf, Size:1020Kb
www.rollits.com www.rollits.com Page 5 Page 6 www.rollits.com March 2010 • Rollits played an unusual role in the Rollits advise on acquisition of the majority of the Food Group Newsletter Ainsley’s of Leeds retail bakery shops successful GreenPalm News bites Rollits’ food deals after the family-owned business had Protected names get fishy! gone into administration. certificate trading • Rollits’ Senior Partner Steve Trynka The improvements we have made so Rollits’ Julian Wild has been interested in the subject of Protected Geographical advised the vendors on the sale of TSC far demonstrate our total commitment • Rollits act as legal advisers to two Cadbury, Gü, Glisten, Kettle… Who’s next? programme Indications since first involved in the Foods to management, led by new MD to providing a great service to all our unrelated retail bakery businesses, hotly debated PGI for Melton Mowbray I started the last newsletter in August with the headline “Tough Jonathan Skofic and backed by Key customers, both group and Cooplands (Doncaster) and Cooplands Pork Pie, which finally gained approval M&A climate but outlook brighter.” I was rather hoping that, March 2010 March Capital Partners, in a £24m deal independent, and we look forward to (Scarborough), both of which were 2010 March last June. completed in July 2009. driving 3G Food Service and Seafood interested in different parts of the once the summer holidays were over, everyone would return to Solutions to further success and Ainsley’s shop portfolio. work with a new vigour for doing deals, having established that • TSC is a leading manufacturer of soups expansion in the future.” One of the latest products to gain its PGI dominant position and help suppliers registration after a nine-year wait is organic sales and profit growth is very hard to come by in these and sauces for both retail and food • Rollits’ Food Group Director, Julian achieve a fairer deal when doing business. Traditional Grimsby Smoked Fish under recessionary times. With the worst of the banking crisis Food Group Newsletter Food Group service, based in Scunthorpe. • Rollits’ Corporate Partner, Nasim Sharf, Wild, working with Corporate Partner Newsletter Food Group EU Commission Regulation 986/2009 on appearing to be behind us, there were some signs that lenders advised Michael Cole (new Chairman) Nasim Sharf, property colleagues Some of the measures in the code 21 October 2009. The following month • Rollits Food Group Director, Julian and Howard Farquhar (new Managing Glenn Craft and Chris Crystal, and include: banning supermarkets from might start doing what they do best – lend! Cornish Sardines also made it to the Wild, had advised Bill Morran and his Director) in relation to their £13m employment solicitor Ed Jenneson, altering supply terms retrospectively or register under Regulation 1182/2009. However, as our month by month guide synergy and cost saving. Certainly, the fellow shareholders on their own management buy-in of Pasta King brought the two Cooplands businesses asking suppliers to fund promotions; to mergers and acquisitions shows, the well-rewarded senior management of management buy-out of TSC in 2006. (UK), backed by NBGI Private Equity, together to acquire 20 of the 29 requiring supermarkets to keep written Honei Project offers sweet solution to anticipated upturn in activity did not Cadbury did not hang about either once also in November 2009. Ainsley’s leasehold outlets in West records of all supplier negotiations; and functional food really materialise, or at least not in the the ink was dry on the deal. • Jonathan Skofic said: “The company’s Yorkshire. Each Cooplands company the appointment of compliance officers The Hull York Medical School at the UK. The quarter to December 2009 saw existing management team has done a • Pasta King, based in Newton Abbot, acquired 10 shops. in supermarkets. University of Hull is launching a new plenty of businesses going into In the meantime, the major UK food tremendous job in driving TSC to its Devon, provides meal solutions GreenPalm is a certificate functional food initiative called The administration (but relatively few going retailers generally performed exceptionally current, market-leading position.” served hot from pasta bars that are • Through the various disposals The code of practice covers all grocery trading programme designed HONEI (Humber Obesity, Nutrition, out of existence) and some major well over Christmas, some (such as loaned out free-of-charge to negotiated by administrator Grant retailers with annual sales over £1billion, to tackle the environmental Education and Innovation) Project on 19 retrenchment to core territory by players Waitrose) remarkably so. But Asda are not • Long-established Hull fish business The customers and has become very Thornton, most of the 285 jobs at instead of just the ‘big four’ covered in March 2010 and has support from Rollits such as Wessanen, Greencore and Uniq, alone in their nervousness about consumer Smales Group completed the sale of its popular in secondary schools. Ainsley’s were secured. and social problems created previous codes, and is implemented as a Food Group. The University’s Functional but very little positive action from the spending and, with tax increases and the 3G Food Service and Seafood by the production of palm oil. result of the Competition Commission Food Centre aims to be the first major UK food & drink companies. rising cost of petrol and other essentials, Solutions businesses in November 2009 • Rollits’ Food Group Director, Julian • Julian Wild commented: “Acquiring Groceries Market Inquiry. Exclusively endorsed by the institution in the UK looking at food and there is not a huge amount of public Talking about needing something warm to a management buy-out team led by Wild, has known Michael Cole for over parts of businesses in administration Roundtable on Sustainable Palm its relationship to disease, whilst linking At Rollits we were very pleased to be confidence ahead of the General Election, in the cold weather, I must mention a 3G Managing Director, Ben Smales, and 20 years and he and Nasim Sharf had is never easy and we needed to show The government has begun a twelve Oil (RSPO), the Greenpalm multidisciplinary healthcare expertise to involved in second half 2009 deals expected to be on 6 May. survey commissioned by Fox’s Biscuits, also including Fiona Smales, Alex worked with Michael and Howard on a the administrator that our proposition week consultation on the creation of a the needs of the food industry. involving TSC Foods, 3G Food Service makers of the Rocky chocolate biscuit Smales and Andrew Stedman. previous transaction. was better value for the creditors than programme is based on the Grocery Ombudsman. and Pasta King, but deals were pretty Unsurprisingly, the retailers’ humour has bar, and owned by Northern Foods, other competing bids. By bringing principle that the best way to Professor Steve Atkin, Head of Academic thin on the ground generally. not been improved by the introduction another company we know well and are • 3G has its own national distribution • Julian Wild echoed the sentiments of together our two Cooplands clients, encourage people to work in a Endocrinology, Diabetes and Metabolism, of a new grocery supply code and the pleased to work with. centre in Hull and supplies many well- NBGIPE Director Richard Morley in we were able to put forward a winning sustainable and responsible way outlined the Honei Project concept: Information It was, perhaps, the bitter battle for prospect of a retail ombudsman. The known food service customers like La saying: “Mike Cole and Howard offer which produced a good result is to reward them for doing so. “We have applied all of our expertise in Cadbury, commenced by Kraft five government has decided to press on The research showed that there may be Tasca and Wagamama. 3G was advised Farquhar are a high quality team and for our clients, the creditors and the If you have any queries on any articles doing clinical trials for pharmaceutical months before consummation, that with this initiative amidst widespread more than 500 ‘biscuit-related’ accidents a on the acquisition by Rollits’ Senior they had great success in an earlier staff. Our experience of working with in this newsletter please contact: Rollits’ Commercial Partner Keith Benton companies to those of the food industry, stirred the M&A world into action. scepticism whether it will deter year, or around ten a week. The custard Partner, Steve Trynka. investment in sandwich manufacturer Cooplands (Scarborough), when they Julian Wild on +44 (0) 1482 337304 or said: “We advised Book&Claim Limited with many businesses coming to us to Certainly the prices paid by Kraft for supermarkets from abusing their cream came out top of the Biscuit Incident Brambles Foods, also backed by acquired the Hull bakery business email [email protected] in setting up the GreenPalm programme, get the data necessary for European Cadbury, and later by Noble Foods for dominant position and may even be Threat Evaluation. Dunking in scalding tea • Ben Smales commented: “Despite the NBGIPE. We know them well and we Skeltons in administration, proved which has proved to be a great success Food Safety Authority (EFSA) This newsletter is for the use of clients Gü and by Diamond Foods for Kettle counter-productive. was a common danger, although poking difficult economic climate, we continue were delighted to be asked to advise very useful in concluding this deal and is operating worldwide. Producers of accreditation to substantiate their health and will be supplied to others on Foods, confirm that good quality oneself in the eye with a biscuit and falling to expand and achieve excellent results. the management on this transaction.” smoothly and on time.” request. It is for general guidance palm oil are able to sell certificates claims.