Client information

Intercontinental Brands

Andrew Barnsley and Kosta Kangelaris advised Intercontinental Brands (Jersey) Limited (“ICB”) on selling a minority stake and raising expansion capital with the backing of Lloyds TSB Development Capital (“LDC”).

ICB is a leading UK producer and distributor of more than 260 alcoholic and non-alcoholic products including Vodkat and St Helier pear cider. The business was established in 1990 by the current joint managing directors Paul Burton and John Hibberd. ICB’s in-house mixing and bottling facility in Middlesbrough employs more than 100 people and produces almost three million cases per year. Since 2003 turnover has doubled to £43 million and is expected to grow substantially over the next few years.

LDC has taken a minority stake in the business and is being supported by the acquisition finance team within Lloyds TSB Corporate Markets, which has provided senior debt and working capital facilities.

Joint Managing Director Paul Burton said “We are grateful to Andrew [Barnsley] who, with his deep knowledge of the private equity market, assisted us to find the right partner for our business. We had a lot of interest from a number of private equity investors and were impressed with the professionalism and expertise with which he ran the process.”

John Hibberd, also Joint Managing Director added, “The lead up to Christmas is the busiest time for our business and we were under a lot of pressure to complete the transaction on a very tight timetable. Andrew [Barnsley] ran the auction and exceeded our expectations, his team managed the process extremely well and delivered the transaction on time.”

With the backing of LDC, the transaction enables ICB to pursue acquisition opportunities which will provide significant synergies and it will assist the company greatly as it looks to continue targeting growing international markets.

John Swarbrick from LDC will sit on the company’s board with Andy Nash joining as Chairman.

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Food & Beverage

Andrew Barnsley
Kosta Kangelaris

www.ldc.co.uk