Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Hovis Holdings Limited (“Hovis” or the “Company”), a company jointly owned by The Gores Group LLC (“Gores”) and Premier Foods plc (“Premier Foods”), was recently acquired by Endless LLP (“Endless”). The terms of the transaction were not disclosed.
Founded in 1886, Hovis is a leading bakery player and one of Britain´s best known food brands, famous for health and naturalness, delivering over 1 million loaves of bread every day of the week. The Company employs around 2,800 people in eight bakeries, one flourmill and three distribution centres across the United Kingdom and Ireland. Hovis is headquartered in High Wycombe, the United Kingdom.
Gores, founded in 1987 by Alec Gores, is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. Over its 30+ year history, Gores has become a leading investor having demonstrated a reliable track record of creating value in its portfolio companies alongside management. The firm maintains offices in Los Angeles, California and Boulder, Colorado. Gores is headquartered in Los Angeles, California.
Premier Foods is a publicly traded manufacturer and distributor of branded and own label food products, operating a diversified range of brands including Ambrosia, Bisto, Homepride, Loyd Grossman, McDougalls, Mr Kipling and Sharwood’s. Premier Foods employs over 4,000 people in the UK and internationally, selling products in a variety of channels including supermarkets, convenience stores, online and other distribution channels (wholesale, food service). Premier Foods is headquartered in Saint Albans, the United Kingdom.
Endless is a UK based private equity investor. Endless has offices in Leeds, London and Manchester and is currently investing its Fund IV of £525 million. Their current portfolio comprises over 20 companies with a turnover in excess of £2.5 billion and over 20,000 employees. Endless is headquartered in Leeds, the United Kingdom.
For additional information about this transaction, please contact: