FineFrance (UK) Limited imports fine food and ingredients for onward sale on a wholesale basis and in to top class restaurants around London and the South – including to some famous celebrity and Michelin starred chefs. It was acquired by the Vestey Group for an undisclosed sum.
Vestey Foods Group specialises in supplying, sourcing and distributing of food products to over 70 countries globally. The group boasts a £300m turnover.
FineFrance, established in 1989 with a head office in Fareham, was owned by French directors, all of whom were now live in the UK. It involved a roll over of some of the sellers’ original investment into the Vestey Group and the exercise of employee share options, with some sellers remaining in the business and some exiting as part of their long-term succession planning and career strategy.
Coffin Mew acted for the sellers in the sale and were involved in the due diligence process, normal sale documentation and in negotiating the deal for those shareholders who were rolling over a proportion of their investment. Amanda Brockwell, head of Corporate and lead partner on this deal commented that “We are delighted for those involved in this major undertaking and believe it will enable Vestey Foods Group to further it’s global reach with the addition of an excellent, premium quality UK based foods provider.” Amanda was assisted by Jenny Packer, James Kitching on the Corporate elements and Tabytha Cunningham on the Employment side.
FineFrance majority shareholder Alain Nozahic said:
Having been involved in the business for over 14 years, I am delighted to have completed a deal that will enable FineFrance to enter the next stage of its growth.
The transaction was originated and led by Gary Ecob and Steve Nock from corporate finance advisory firm Orbis Partners. Other advisors included BDO, Menzies and Stevens & Bolton.