Begbies Traynor advises Tŷ Nant on purchase of Strathmore water

Begbies Traynor Group has led the advisory work on Tŷ Nant’s acquisition of the Strathmore water brand from AG Barr, providing financial due diligence and wider corporate finance support on the transaction.

The deal, which follows Tŷ Nant’s earlier purchases of Fonthill Water and Decantae Mineral Water, forms part of the Welsh producer’s growth plan as it moves from about £12m towards £30m in revenue. Strathmore will continue to be bottled at its site in Forfar, Scotland, with jobs at the facility retained.

Begbies Traynor Group supported the transaction through its BTG Advisory and Eddisons teams. BTG Advisory conducted financial due diligence on Strathmore, while Eddisons carried out a valuation of Tŷ Nant’s manufacturing site in Wales as part of a refinancing that helped fund the acquisition. 

The team was led by partner Rob Insall and director Graeme Lipman, who also continue to provide debt advisory support to help optimise Tŷ Nant’s borrowing facilities.

Insall said: “Tŷ Nant’s ambitious and well-thought out plans are making it into a true British success story. With this latest acquisition, it is not only protecting jobs but also creating opportunities for growth and expanding its reach beyond the UK and the high-end dining it specialises in.

“We are very pleased to have supported Tŷ Nant in the next stage of its growth plan and are looking forward to working with the company in the future. By using a refinance to generate cash for investing in acquisitions the company has seen an opportunity to build now and increase its revenue on a path to its target of £30 million and beyond.”

Lipman said: “I had a site visit to the plant in Wales and was so impressed by the entire set up. The attention to detail was evident in every aspect of the business and in particular the production bottling line.

“It was clear to see why the business is successful with a positive vision for the future. We are very pleased that we were able to support the recent acquisitions and with a good funding line in place, it should support growth inline with the plans that Ty Nant has for the future of itself and its new acquisition.”

Tŷ Nant chairman and director, Raminder Sidhu, added: “We thank Begbies Traynor for supporting us on the work to acquire Strathmore. It is a brand with a deep legacy and a loyal following, and we are honoured to be entrusted with its next chapter.

“AG Barr has been exemplary custodians of the brand and the Forfar operation. We are grateful for their partnership and support during this transition, and for the strong platform they’ve built – both in the market and on the ground.”