Hancocks Group Holdings Ltd has been acquired by H2 Equity Partners
Hancocks Group Holdings Ltd (Hancocks), the specialist confectionery wholesaler, announces its sale to a management buyout backed by H2 Equity Partners (H2), for US$78 million.
Hancocks was established in 1962 and it has 18 cash and carry depots across the UK, stretching from Glasgow to Portsmouth with turnover of approximately US$165 million. Hancocks sells a substantial range of pick ‘n mix sweets under its own brand, Kingsway, in addition to its more contemporary children’s favourites and a wide range of other leading confectionery brands. Confectionery has proven to be a highly resilient sector, with consumer demand remaining strong during recent years in conjunction with the resurgence of traditional sweets.
H2 Equity Partners is an independent private equity firm founded in 1991, with offices in Amsterdam, Munich and London.
Oaklins Cavendish, based in the UK, advised the seller in this transaction. Following a competitive process, H2 was selected as preferred bidder, principally on the basis of its specialist knowledge of the wholesale sector and its approach to the Hancocks family shareholders. A debt and mezzanine financing package was provided by Investec Bank. The team assisted in preparing Hancocks for a private equity-backed management buyout, assisting them in the preparation of a detailed business plan and forecast models.
Talk to the deal team
Related deals
Perkbox has been acquired by Great Hill Partners
Molten Ventures has sold Perkbox to Great Hill Partners.
Learn moreArculus Cyber Security has been acquired by Bridewell
The shareholders of Arculus Cyber Security (Arculus) have sold the business to Bridewell. The deal will bolster Bridewell’s growing roster of accreditations as well as strengthen its public sector footprint, enabling the expansion of its end-to-end cyber security offering for clients across the globe.
Learn moreGlobal IT Group has joined forces with enthus Group
Global IT Group, an IT services company, and enthus Group GmbH, an IT solution provider operating in Germany, Austria and Switzerland, have joined forces. As a result, enthus Group will significantly expand its market position in Switzerland. The sellers of Global IT have reinvested in the buyer and will ensure that local management continues to run the company as part of the succession planning.
Learn more