Howes Percival has acted for Highweald Beverages on the expansion of its drinks business with the acquisitions Conwy Brewery, a Welsh brewer specialising in cask and bottle conditioned ales and, Pookchurch Vineyard, an established 100-acre vineyard in Sussex’s High Weald.
The acquisitions form part of Highweald Beverages’ plans to grow its portfolio in the UK beverages market. They follow the acquisitions in 2020 of Lake Street Vineyard and, 360 Degree Brewing Company, both of which Howes Percival advised on. Highweald Beverages’ long-term strategy is to become a prominent, mid-market beverage company.
Highweald Beverages is supported through investment from alternative investment firm the Cadman Capital Group.
The Howes Percival team who advised the Highweald Beverages and Conwry Brewery acquisitions was led by Miles Barnes (corporate), with support from Lucy Lord, Owen Franks, and Rosanna Langridge (commercial property), Graham Irons and Sobia Ahmad (employment), and Harriet Rodgers (banking).
The team managed the legal process on both acquisitions from start to finish, including advising on due diligence, preparing and negotiating contracts, complex property, employment, financing and regulatory issues.
Commenting on the deal, Miles Barnes, a senior associate at Howes Percival said,
“We’re delighted to have advised Highweald Beverages on these acquisitions. The food and drink sector has been hit incredibly hard by the Covid-19 pandemic and by the challenges of importing and exporting goods post-Brexit. But these deals and several others over the past few months demonstrate that there continues to be good news stories in the sector. There are some fantastic British food and drink businesses and the appetite to invest in them, particularly in those who have developed their retail and e-commerce sales following the pandemic, remains strong.
“So far, 2021 has been an incredibly busy for Howes Percival’s transactional teams. A significant number of businesses, particularly those in Private Equity and Venture Capital, are keen to invest whilst many existing business owners are looking to secure an exit, with the potential for future tax changes looming large.”
For more information on Howes Percival’s commercial and corporate services, please visit: https://www.howespercival.com/services/corporate/.
