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Sweet deal for confectionery company JTS

JTS founder and majority shareholder John Stimpson and five other shareholders in the management team were advised by Crowe Clark Whitehill corporate finance director Andy Kay

Smethwick confectionery company JTS (International) has been acquired by Hancocks Group in a deal advised in the Midlands.

JTS founder and majority shareholder John Stimpson and five other shareholders in the management team were advised by Crowe Clark Whitehill corporate finance director Andy Kay.

Legal advice was provided by Guy Green and Clare Lang of law firm George Green.

Hancocks Group acquired JTS through a subsidiary company, World of Sweets. Following an institutionally backed buy out in November 2012, Hancocks Group is a portfolio company of H2 Equity Partners.

Mr Stimpson established JTS in 1991 and it has grown to achieve annual sales of more than £20 million.

JTS operates its own in-house design, development and technical departments The firm creates a range of new products every year and sources products to meet specific customer requirements.

The company also imports confectionery from around the world, supplying supermarkets, discount stores and wholesalers.

Mr Kay said: “We have been working with the shareholders of JTS International for some time and we made the introduction to H2 Equity Partners late last year.

“There is a strong strategic fit between the businesses and the acquisition enables Hancocks to widen both its customer and product base and grow the direct distribution part of the business significantly.”

The acquisition will increase Hancocks Group’s annual sales to around £140 million.

Hancocks sells its own brand, exclusive products and main brand confectionery via a national cash and carry network, a direct distribution business and an export and e-commerce channel.

H2 Equity Partners currently manages a portfolio of 16 companies with funds under management of around £420 million.

Hancocks Group and H2 Equity Partners were advised by James Trevis and Louise Finnie of law firm Eversheds and Dougal Baxter and Vinny Patel of BDO.

 
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