Fox Williams has advised Laurens Spethmann Holding (LSH) on the sale of health food manufacturer, Halo Foods Ltd. (Halo) to an affiliate of Peak Rock Capital (Peak Rock), a Texas-based private equity firm, which will operate in partnership with the management team of Halo.
Headquartered in Newport, Wales, Halo is a leading manufacturer of healthy bars and snacks, with an extensive portfolio that includes cereal bars, fruit and nut bars, gluten-free, high protein and nutritionally controlled bars, including the rapidly growing “Skinny” brand.
Operating throughout Europe, LSH is a modern and flexible family company in its fourth generation, with the advantages of a company culture shaped by its owners. LSH’s product range includes tea, cereals, snack bars and sweeteners.
The transaction completed on 17 September 2020 after an 11-week period, with all parties working together to successfully overcome the challenges posed by the lockdown restrictions in response to the COVID-19 pandemic.
The Fox Williams team was led by head of corporate Richie Clark, principally assisted by corporate partner Doug Preece, corporate senior associate Nazim Alom, corporate associate Eve Dimery, head of tax Emma Bailey and tax director Joanne Varia.
Richie Clark said: “We were delighted to help our longstanding client LSH achieve a successful realisation of its investment in Halo by providing great client service in a very a tight time frame.”
Ingo Steinbach, finance director of LSH said: “Richie Clark and his team at Fox Williams really focused on getting the deal done in the short time available. They took a commercial and pragmatic approach, always keeping a watchful eye on the important legal issues to ensure that we were protected, not only in the purely legal matters but also in the tax aspects. The team has delivered an outstanding performance.”