News & Events
We are delighted to have advised Heron Food Group on its recent acquisition by B&M subsidiary EV Retail, in a £152m deal.
Heron, the Yorkshire-based food retailer, operates throughout the North of England with 251 stores.
With a team led by head of corporate Andrew Funnell, Andrew Jackson advised shareholders throughout the process, which has successfully completed after several months of negotiations.
Andrew said: “We welcome today’s announcement, and are pleased to have successfully delivered for our clients in such a significant acquisition for the region, which brought together multiple partners, shareholders and colleagues from across the professional services.”
Working closely with Deloitte, which provided Heron Food Group with financial services, the Andrew Jackson team provided a range of legal advice and services to shareholders throughout the process.
Of the total £152m deal, £112.1m was paid by B&M today, with £12.8m deferred and based on EBITDA performance.
“This deal marks the start of new era for one of the region’s most important retailers, and on behalf of the team at Andrew Jackson, we wish them every success. I’m delighted to see our corporate team continue to thrive, with a clear focus on delivering exceptional legal services built around our clients’ needs.
“We are very proud to be working with some of the region’s leading businesses, and to be taking an active role in helping them to realise their ambitions.”
The announcement follows several significant regional deals for the law firm, which now operates from offices in Hull, York, Scarborough and Grimsby.
June saw the Andrew Jackson corporate team announce completion of three corporate transactions with an aggregate value approaching £20m, marking a successful start to the first half of 2017.