Michelmores is pleased to announce that it has advised the UK’s largest independent processing dairy, Freshways, on the acquisition of the business and assets of Liverpool based Coulton’s Bread Ltd a prominent bread wholesaler from its administrators.
Since its beginnings in 1990 as a small wholesaler, Freshways has grown into one of the largest independent and family-run dairy suppliers in the UK. This acquisition follows the recent acquisition of Milk & More, one of the market leaders for home grocery deliveries.
With this acquisition, Freshways Group is poised to sell in excess of 50 million loaves per annum. This strategic move not only expands Freshways’ market presence but also safeguards 110 jobs and supports local businesses, contributing to industry stability. The integration of the Coulton’s Bread business will enhance operational efficiency and distribution capabilities, further strengthening Freshways’ position as a reliable bread wholesaler.
This acquisition aligns with Freshways’ growth strategy and commitment to job preservation while remaining dedicated to sustainability and excellence in the dairy and bakery sectors and by swift execution, has saved a significant regional business in the sector.
The Michelmores team advising on the deal was led by Partner from the Firm’s Restructuring and Insolvency Team, Sacha Pickering, alongside Partners Alex Watson, Benn Richards, Robert Forsyth, Adam Corbin, and Paul Beanlands.
Adam Corbin, Freshways Client Partner comments:
“We really enjoy assisting Freshways with these exciting, fast paced, transactions, and are well placed to provide a reactive service where our teams can use their knowledge and understanding of Freshways’ business, and this sector as a whole to deliver good client service, and strong technical work”.
Freshways Director, Bali Nijjar said:
“We committed to this transaction with a very short timescale, safe in the knowledge that Adam, Sacha, Alex, and the Michelmores Team would make sure we achieved our objectives. Having a Team of lawyers who know us and know our business makes a real difference in transactions like this, and Michelmores have really invested in our relationship to ensure they deliver that.”
Michelmores’ consumer and commercial specialists help UK and international brands to break into new markets, connect with customers and close deals. From food and drink to luxury goods, brands with big ambitions and sustainable visions trust our extensive legal expertise. Read more on our website.
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