Coffee firm completes UK distribution business purchaseSep 15, 2019
ITALIAN coffee company illycaffè SpA has completed the acquisition of Northampton-based Euro Food Brands’ UK illy division distribution business.
The acquisition will enable illycaffè to directly manage its UK distribution operations and signals the company’s intention “to keep on investing in the United Kingdom, despite Brexit uncertainties.”
The deal involved an initial reorganisation and restructure of the EFB business to demerge the illy coffee business, together with the sale of this division to illycaffè SpA. The disposal included the transfer of business, assets and staff responsible for the distribution of illy coffee products in the UK.
However, EFB will continue to manage the supply of all retail and ecommerce retail customers on illycaffè’s behalf.
Law firm Howes Percival’s Northampton office and business advisers KPMG, which provided tax and structuring advice, oversaw the restructure and advised EFB shareholders on the sale.
Howes Percival partner Gerald Couldrake, who heads the firm’s corporate and commercial team in Northampton, said: “We are delighted to have advised the shareholders in relation to this complex transaction, which allows EFB to continue to distribute illy coffee into UK retailers for the foreseeable future.
“Even in the current uncertain economic climate, our corporate team is completing significant sized deals and we have a strong pipeline of deals to come. We are seeing an upturn in transactions in the Northampton office and across the country we have been busy with everything from financing and acquisitions through to MBOs.”