WKD firm swoops on Gloucestershire based Bottlegreen Drinks Company

by thisisgloucestershire.co.uk - 19/05/2011

"Bottlegreen, the Gloucestershire-based soft drinks business, has been sold to the makers of WKD, Merrydown cider and Schloer for a pricetag believed to be £25m."

The Northern Irish-based food group SHS has bought private equity firm Piper’s majority shareholding in the business.

According to Bottlegreen’s managing director, Simon Speers, the factory in South Woodchester and its staff are “safe”.

Mr Speers, who will remain as MD and retains shares in the company, said it was all good news for Gloucestershire

“They (SHS) are committed to leave us as a stand alone company – they also have a huge office in Gloucester Business Park – where they do the SHS sales and marketing brokerage from – so really another local firm in many ways,” said Mr Speers.

Piper has achieved a five-fold increase on its four year investment of £5m. Some members of the management team will retain shareholdings in the group.

During those five years Bottlegreen has become an iconic brand stocked by all the major UK multiples with a fast-growing international presence.

Over the period of the investment, consumer awareness of the brand in the UK jumped from 5% in 2007 to 15% in 2010.

During its involvement with Bottlegreen, Piper said it had worked closely with management to help develop the business, which had involved a major re-branding of the products, the creation of a direct communication strategy with consumers and a focus on driving significant sales increases and an 11% improvement in margin.

Simon Speers, who led the original MBO backed by Piper, stated: “As a management team we are extremely proud of the work we have done to grow Bottlegreen into such a successful business and a brand our customers love.

“The partnership we have had with Piper has been excellent and throughout its investment the team has been incredibly supportive, providing expertise and resources when required to help us be our best.”

George Adams, of Piper, said: “When we invested in Bottlegreen we understood that we had an opportunity to work with an excellent management team to refresh the brand, broaden its distribution and extend the product range to take advantage of changing consumer tastes for more natural, healthy adult soft drinks.

“In doing so we have helped create an iconic brand that customers really value and achieved a stunning return for our investors, which is exactly what Piper exists to do.”

Andrew Hodgson, from KPMG Corporate Finance, said: “Bottlegreen is the leading premium adult soft drink brand in the UK and its management has grown the business to a point where there is real traction with not only the major supermarkets but also the on-trade. This business has huge on-trade and export potential and SHS is the ideal partner to support Bottlegreen with its continued growth.”

Piper was advised by KPMG (Corporate Finance) and Bond Pearce (Legals). SHS was advised by Grant Thornton (FDD) and McGrigors (LDD).

More Details: http://www.thisisgloucestershire.co.uk/news/WKD-firm-swoops-Gloucestershire-based-Bottlegreen-Drinks-Company/article-3570138-detail/article.html