Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Interpath has advised on the sale of original hand-iced biscuit company Biscuiteers to a newly formed company, which will be majority owned by its founders and members of the management team.
The transaction follows a funding options review undertaken by the company with support from Interpath Advisory and was completed by Will Wright and Chris Pole from Interpath as joint administrators to the company.
Founded in 2007 by Stevie Congdon and Harriet Hastings, Biscuiteers is a certified B Corp company that operates from a purpose-built manufacturing HQ in Wimbledon and has a boutique icing café in Notting Hill.
Its product range has expanded to brownies, chocolates, macarons as well as gift hampers.
Biscuiteers has confirmed that customer orders, vouchers, and loyalty points are unaffected by the transaction and will continue to be “honoured in full”.
The transaction also safeguarded the jobs of all circa 160 members of staff who have transferred to the new company and operations are continuing as normal.
Francesca Pittaway, CEO of Biscuiteers, said: “This transaction represents a significant milestone for Biscuiteers. With a strengthened balance sheet and backing of the newly formed company we are ideally positioned to accelerate the brand’s growth. I am genuinely excited to continue working alongside Harriet and the rest of the team as we embark on the next chapter of Biscuiteers’ journey.”
Wright, UK CEO of Interpath and joint administrator, said: “We’re pleased to have concluded this transaction with Biscuiteers which puts in place a stable financial platform upon which the business can continue to scale. We wish everyone at the Company all the very best for the future.”
