Experienced solicitors from Joelson’s Corporate and Commercial team have assisted Sunmagic Juices Limited (Sunmagic) with its acquisition of new assets from Cott Beverages Limited.
As part of a divestment agreement with the Competition and Markets Authority (CMA) following a merger between Refresco Group N.V. and Cott Corporation Inc., Cott Beverages Limited had to sell its Aseptic A-PET bottling plant so that the merger could go ahead.
Aseptic bottling is a high quality and sterile process used in the production of fruit juices, smoothies and juice drinks, and vitamin waters.
Having identified an opportunity to expand its portfolio of manufacturing capabilities, Sunmagic asked Joelson to assist with the purchase, having worked with them on other acquisition projects.
Peter Felix Commercial Director of Sunmagic commented: “We worked with Joelson on the acquisition of our freshly squeezed juice business in 2016, and found they provided expert technical advice allied with sound commercial thinking. Therefore it was an obvious and easy choice to select Joelson for this transaction”.
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Richard Barnett, the lead Partner in the Joelson team, said: “Divestment arrangements under a CMA timetable have a very short timeframe and there was a lot to consider in a short period.
“We had to work quickly to ensure the needs of our client were met and they did not miss out on this fantastic opportunity to expand their business.”
Peter Felix, Commercial lead for Sunmagic added: “We knew that the transaction needed to be completed quickly as the target business was of interest to several parties. To progress rapidly Joelson mobilised a team of experts who were available around the clock to get the deal over the line. It took eight weeks from our initial approach to completion, and the help and advice from Joelson was invaluable. I would certainly work with Joelson again, and highly recommend them.”
During the transaction the Joelson Corporate and Commercial team, which included Richard, Phil Hails-Smith, Maria Michael and Jacob Flowers, coordinated the strategy for the acquisition and negotiated the core documents, liaising with both the property team (Paul Sprague, Tegan Leblon, Andrew Clissold and Michael Friend) and employment team (Jennifer Maxwell-Harris and Reema Jethwa) for input on the respective aspects of the deal.
“Thanks to the hard work and dedication of all of our team we were able to complete this transaction within the tight timeframe and we are delighted that everything has worked out well for our client,” added Richard.