Providing independent corporate finance advice to the international consumer sector
Spayne Lindsay advises The Snowfox Group on the sale to the Zensho Holdings.
DEAL ANNOUNCEMENT
Spayne Lindsay & Co is delighted to announce that it has advised on the sale of Snowfox Group, the largest sushi provider outside of Japan, to Zensho Holdings, the number one Japanese foodservice company by sales listed on the Tokyo Stock exchange, for a total consideration of $621m. The transaction is subject to anti-trust approval from the U.S. regulatory authorities.
This exciting transaction adds to Spayne Lindsay’s credentials advising large restaurant and food groups on complex cross-border sell-side transactions.
Louis François offers a portfolio of 300+ functional products
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Year
2022
Value
Not disclosed
Sector
Consumer Products & Other
Founded by Mr. Louis François in 1908, Louis François is a family-owned French developer of specialty, functional ingredients for gourmet pastry, chocolate, confectionaries and ice-cream premium artisans, culinary experts and food manufacturers. Louis François offers a portfolio of 300+ functional products, serving a diversified client portfolio worldwide composed of artisans, chefs and food producers. The company currently operates 2 sites in France (Croissy-Beaubourg and Jouy-sur-Morin), employing about 30 people.
Novax, a long-term investor and operating partner, is pleased to offer its commitment to together with the team build and expand Louis François over the years to come. Since Novax’ entry into specialty ingredients, marked by the inception of Novax Ingredients, they have been careful and selective in partnering with independent niche leaders with unique, competitive positions. Novax Ingredients is focused on developing clean, functional & sustainable ingredient solutions for the food industry, helping manufacturers solve process & development challenges through product reformulation – be it within improving nutritional profiles or enhancing overall product quality.
Both Novax and Louis François see great mutual potential in collaborating – both companies are niche market leaders with specializations that complement another. Novax will further develop the Louis François brand in full respect of its heritage as prime supplier to the gastronomic sector, premium chefs and artisans.
Tangle Teezer produces a range of innovative and tailored detangling, blow-drying and styling hairbrushes.
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Year
2021
Value
More than £70m
Sector
Consumer Products & Other
Founded in 2007 by Shaun Pulfrey, Tangle Teezer produces a range of innovative and tailored detangling, blow-drying and styling hairbrushes famous for their unique patented teeth technology. With record revenues of over £30m achieved in 2020 and presence in over 75 countries, the business has grown to become a world-renowned brand, recognised for creating the detangling haircare category, and is swiftly becoming an essential haircare companion to both consumers and haircare professionals. Tangle Teezer’s products are sold through well-established international online and multi-channel retailers with digital channels accounting for over 50% of sales today.
Mayfair is partnering with James Vowles, CEO, and his team to support further product innovation and international expansion. Shaun will remain a minority shareholder in the business.
Anglia Maltings operates seven malt facilities in the UK, Poland, and Germany, with a combined capacity of 440,000MT.
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Year
2023
Value
Not disclosed
Sector
Food & Beverage
Founded in 1870 and headquartered in Norfolk, England, Anglia Maltings encompasses a diverse portfolio of businesses including Crisp Malt, Micronized Food Products (MFP), and EDME Food Ingredients.
Anglia Maltings operates seven malt facilities in the UK, Poland, and Germany, with a combined capacity of 440,000MT. Crisp Malt collaborates with local farmers to source the highest-quality malted barley, serving breweries and distilleries and the food industry worldwide. MFP specialises in the production of cereals and pulses for brewing and animal feed, while EDME Food Ingredients focuses on malted and non-malted products catering to the baking industry.
Given the growing global demand for malting barley, predominantly driven by the brewing and distilling industries, Richardson’s proven track record of strategic expansion and investment positions the company to meet the increasing requirements of an international customer base.
The Snowfox Group has established itself as a highly reputable global sushi platform, fulfilling increased consumer demand for Japanese food across its four distinct brands – Snowfox, Bento, Taiko and YO! in North America and the United Kingdom. The Group provides consumers with high quality, convenient and affordable Japanese food and operates approximately 3,000 chef-operated sushi kiosks and other restaurants in North America and the UK, as well as being a sushi manufacturer and wholesaler.
Spayne Lindsay is pleased to have advised Mayfair Equity Partners LLP from start to finish of their investment journey, having advised on the initial acquisition of YO! Sushi, the UK‐focused sushi restaurant business known for its innovative conveyor belt and an iconic consumer brand in 2015, as well as the subsequent acquisitions of Bento Sushi (2017) and Snowfox (2019) that formed key parts of the successful buy & build strategy, through to the ultimate exit to a highly strategic international trade buyer.
“On behalf of the Motor Neurone Disease Association (MNDA), I would like to thank the Spayne Lindsay Team and its army or supporters for the magnificent effort in the triathlon and the huge number of donations received, its huge achievement and a very material amount for the work of our charity. The money will go towards our three main areas of activity: 1. Research into the causes and treatment of MND; 2. To provide care and support for people living with and affected by MND, and 3. Raising awareness of MND among the general public. Again, THANK YOU and well done for this huge and potentially life-changing contribution.”
The Snowfox Group has established itself as a highly reputable global sushi platform, fulfilling increased consumer demand for Japanese food across its four distinct brands – Snowfox, Bento, Taiko and YO! in North America and the United Kingdom. The Group provides consumers with high quality, convenient and affordable Japanese food and operates approximately 3,000 chef-operated sushi kiosks and other restaurants in North America and the UK, as well as being a sushi manufacturer and wholesaler.
Spayne Lindsay is pleased to have advised Mayfair Equity Partners LLP from start to finish of their investment journey, having advised on the initial acquisition of YO! Sushi, the UK‐focused sushi restaurant business known for its innovative conveyor belt and an iconic consumer brand in 2015, as well as the subsequent acquisitions of Bento Sushi (2017) and Snowfox (2019) that formed key parts of the successful buy & build strategy, through to the ultimate exit to a highly strategic international trade buyer.
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