Thu, 22 Nov 2012 | MBO/MBI
Pick and mix sweet wholesaler Hancocks has been sold in a private equity-backed management buyout.
The cash and carry business, which had a cash turnover of around £100 million, was bought in an MBO led by the company's chief executive Mark Watson and backed by H2 Equity Partners, with advice from Cavendish Corporate Finance.
Ray Hancock established the Hancocks Group back in 1962 and the business has been owned and managed by the family for the past 50 years, with brothers Andrew and Adrian the latest to hold the reigns.
Caroline Belcher, who led the transaction for Cavendish Corporate Finance, told Insider Media: “From the outset, H2 showed an understanding of the wholesale sector and an appreciation of Hancocks and its family roots. I am delighted that we could put together a transaction which resulted in such a supportive home for the Hancocks business and the management team, as well as meeting all of the Hancock family's aspirations.”
Andrew Hancock, former owner and chairman, added that the business sale is good news for “customers, employees and suppliers”, noting that the business will continue to grow under the guidance of its new owners.
Represents an opportunity for an acquirer seeking a three surgery, predominantly private dentistry located in Pembrokeshire.
FREEHOLD
Predominately NHS dental surgery with scope for physical expansion, private growth and extended services.
FREEHOLD
Represents an opportunity for a dental practice acquirer seeking a seven surgery mixed dentistry operating since 1978.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.