UK: Confectionery wholesaler Hancocks Group in management buy-out
The private equity firm said it plans to “build on Hancocks’ strong position in the market
UK confectionery wholesaler Hancocks Group has been sold in a management buy-out backed by H2 Equity Partners.
The private-equity firm said it plans to "build on Hancocks' strong position in the market to take the company forward in the coming years".
"We are delighted to have reached an agreement that allows us to become the majority shareholder of Hancocks," said Simon Gilbert of H2 Equity Partners. "The business has a strong management team in place and is a great platform to build from. We shall use our significant experience in wholesaling businesses to assist management in taking the company to the next level."
Hancocks said H2 and management will work together to expand the national depot network, continue to develop both the branded and own label ranges on offer and grow the online activities.
Mark Watson will remain as CEO. Financial details of the transaction were not disclosed.
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- Why May's Brexit comments give reason for optimism
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- Bernard Matthews pensions scheme under review
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report