Bonds Confectionery Limited based in Nottingham, established in 1895 and one to the oldest confectionery companies in the UK, has been acquired by Innovative Bites Ltd.
Bonds Confectionery Limited is a leading confectionery supplier to both individuals and businesses alike and has been under the ownership of Philip Courtenay-Luck for the past ten years. Since acquiring Bonds, Philip has grown the company to one of the leading confectionary wholesalers in the UK, offering some 450 products. The range includes everything from Victorian jars of Strawberry Bon-Bons, own label for major supermarkets through to retro favourites like Millions to Bonds UK leading 39p bag range.
Innovative Bites Ltd is an independently owned, American food and confectionery distributor / online-retailer, based in Harrow. The deal with Bonds will enable it to broaden its product offering, retail channels and increase its packaging and branding capabilities.
Corporate Finance advice was provided to Bonds by business advisory firm BDO LLP, and legal advice was provided by its lawyers Gateley PLC.
Philip Courtenay-Luck, Owner and Managing Director of Bonds said;
“From engagement, the BDO and Gateley teams proved themselves to be dedicated professional advisers during the successful sale of Bonds. BDO led the negotiations consummately, showing at all times exceptional levels of commitment with first class insight through each stage of the process. We are delighted with the deal achieved and would be happy to recommend both BDO and Gateley for any future transactions.”
John Bryant, Head of M&A at BDO LLP in the East Midlands, said;
“It was a great opportunity and privilege for us all at BDO to work with Philip on this exciting disposal. It certainly wasn’t a straight forward deal but that made it all the more exciting and challenging, with a great outcome for all.”
Mark Rutherford, Partner at Gateley PLC in Nottingham, said “We are pleased to have worked with Philip on the transaction. From the outset it was apparent that Philip had been involved with transactions before and his experiences mixed with our expertise helped smooth over what could have been a more difficult legal process”.
