East Mids advisers plant Tree of Life deal
The East Midlands offices of Eversheds and Smith Cooper have advised on the acquisition of food wholesaler Tree of Life (TOL) UK.
They led a management buy-in (MBI) from Dutch-listed parent company, Royal Wessanen NV, on undisclosed terms.
Wessanen said the sale was part of its strategic plan to concentrate on its other business sectors.
The existing management of TOL will continue their roles within the business and will be supplemented by the MBI team, headed by new managing director John Weaver.
TOL was established almost 20 years ago as Natures Store and was acquired by Wessanen in 2002.
It has a turnover of about £35m and employs almost 150 people from its base in Staffordshire.
The company distributes food products including organic, vitamins, minerals and sports nutrition supplements to customers throughout the UK and Ireland.
Eversheds' East Midlands office provided legal advice to the buyer.
Corporate partner Stephen Kitts said: "The outlook for TOL is positive and the structure of the deal will ensure there is plenty of incentive for all concerned to deliver a successful outcome – we are delighted to have worked hand in glove with the management team on this exciting opportunity."
Funding for the transaction was provided by Lloyds TSB. The seller was advised by the Manchester office of PwC and Jones Day Solicitors in London.
