Eversheds leads on sale of Sugar Puffs owner to Finnish company
16 Feb, 2011
Eversheds has taken a lead role on the £82m purchase of Sugar Puffs parent company Big Bear Group by a Finnish food business.
The top 10 UK firm advised Raisio, an existing client of the firm, on its purchase of the Big Bear, which owns well-known brands including Honey Monster, Sugar Puffs and Fox’s Confectionery.
Eversheds head of food Robin Skelton took the lead role on the deal, which closed earlier this month (4 February).
Big Bear, which prior to the acquisition was owned by Investec and approximately 20 individual shareholders, was advised by Hampstead-based law firm Solomon Taylor & Shaw, with name partner Raymond Taylor leading the firm’s team.
Skelton said: “Eversheds has a dedicated international food and drink practice which routinely advises on all manner of issues affecting the sector. We are extremely pleased to have advised Raisio on this strategic acquisition which will help to cement its position as a leading provider of healthy snacks in Europe.”
He added: “This is a pretty active sector where companies are looking to buy branded businesses. There is also a lot of market consolidation.”
Big Bear was created in 2003 by Mario Giannotta, John Jackson, and Paul Wilkinson through the acquisition of Fox’s Confectionery from Northern Foods. It went on to acquire Sugar Puffs and Harvest Chewee cereal bars from PepsiCo in 2006.