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The corporate finance team of PKF Smith Cooper has advised Midlands-based Hyperama plc on the sale of its cash and carry division based in Peterborough to London-based Holland Bazaar Ltd.
Having undertaken a strategic review, Hyperama had decided to divest of its cash and carry operations. Holland Bazaar has stated that the acquisition is part of a long-term strategy to increase its presence outside of London.
Commenting on the transaction, Marcus Singh said: “Peterborough is a predominantly food service-led depot, making Holland Bazaar well placed to take the reins. I am pleased that we have found a purchaser with shared values that will continue to invest in the Peterborough site for the benefit of our staff, customers and suppliers.”
The partner-led team advising Hyperama was led by Darren Hodson and Tom Joy, and included support from PKF Smith Cooper tax advisory partner Gary Devonshire. Legal advice was provided by Adam McGiveron and Emma Bryant of Penningtons Manches.
Marcus Singh, managing director of Hyperama plc, said: “The expert guidance and support received from PKF Smith Cooper was critical to the successful completion of this transaction. The team guided both ourselves and latterly the purchaser through previously uncharted waters and were able to efficiently and effectively resolve complexities as the transaction evolved.
“The sale was tightly managed and the team constantly pushed all stakeholders to ensure that the deal progressed at lightning speed. I would like to thank Darren Hodson and Tom Joy for their sustained efforts on closing this transaction.”
Hodson added: “We are delighted to have secured a successful deal for Marcus and Hyperama. This is another great example of the team’s ability to build and maintain momentum to deliver complex transactions at a swift pace.”
