Haslers supports Mangrove Global’s acquisition by French group GBH
UK spirits distributor, Mangrove Global, has been acquired by GBH – the owners of Spiribam – with the help of Haslers Corporate Finance LLP.
This dedicated team of corporate finance professionals is part of Loughton-based Haslers Chartered Accountants, which has supported Mangrove Global with several matters in the past.
GBH acquired Mangrove Global as part of its desire to invest and develop its brands across the spirits sector internationally.
In an announcement, Stéphane Hayot, Managing Director of GBH, said that the move will help with “strengthening our distribution structures in strategic markets.”
Haslers has been the advisors to Mangrove since the company’s incorporation nearly ten years ago in 2013.
The team’s deep understanding of the business and its shareholders made it ideally placed to be the lead adviser on the disposal of the entire share capital of Mangrove Global Limited.
Previously, it helped Mangrove with other transactions that have supported the business’s growth.
Under the terms of the latest deal, Mangrove’s co-founder and current Managing Director, Nick Gillett will continue to lead the company and manage the distribution of all GBH rum brands in the UK. These include Rhum Clément, Rhum JM, Bounty, Chairman’s Reserve, and Admiral Rodney rum brands.
Speaking about the deal, Nick Gillett said: “Joining GBH and having access to Spiribam’s brands, resources and talents is an extraordinary opportunity. Under the impetus of [the] new shareholder, Mangrove will be able to accelerate its development in the UK by relying on a team of passionate employees and a portfolio of leading partner brands.
“GBH and Mangrove share similar entrepreneurial values. The possibilities offered to our brands, but especially to my team, are a great opportunity.”
A majority shareholder and co-founder of Mangrove, John Coe, will now leave the company to pursue other commercial interests.
Michael Watts, Corporate Finance Partner at Haslers, said: “It was great to support Mangrove Global and its shareholders with GBH’s acquisition. Given our previous history with the group, we were in an ideal position to provide effective advice that ensures Mangrove and its team can make the most of this transaction.
“I am sure that under GBH, this company will continue to grow and thrive as it takes on the distribution of a number of high-quality spirit brands in the UK. I am glad we could provide the support that our clients required to complete this important deal.”
Nick Gillet, Managing Director from Mangrove Global commented.
“My thanks go to Michael Watts and Paul O’Gara at Haslers who worked quickly and tirelessly on helping me through the sale of my business Mangrove Global Limited. Aside from following the complexities of the deal itself, their efforts not only kept the deal on track during negotiations, but their timely inputs ultimately ensured completion whilst making sure I understood every step of the process and its implications. This was all delivered with the professionalism you would expect but with a personable approach which was absolutely essential at times and all within a fee framework that I believe delivered good value”
To find out more about Haslers’ wide range of tax, accountancy and business advisory services, please visit www.haslers.com
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