Advised on the acquisition of Baker & Spice Ltd
March 2, 2009
Coffer Corporate Leisure has introduced and advised Luke Johnson and Risk Capital Partners on the acquisition of Baker and Spice Ltd from Administrators Nick O'Reilly and Geoff Rowley Partners at Vantis Business Recovery Services.
Baker and Spice is a quality retail outlet and bakery business offering a premium product range and operates from four central London locations including Chelsea, Belgravia and Maida Vale as well as a concession within Selfridges. The acquisition was made through new vehicle Spice Bakery Ltd.
Risk Capital Partners already owns Patisserie Valerie Ltd and Druckers Ltd through the holding company, Patisserie Holdings, which is the UKs largest patisserie chain with over 50 sites nationwide.
The London-based business Patisserie Valerie was acquired in September 2006. Coffer Corporate Leisure acted on behalf of the vendors in this transaction. Druckers, the Vienna Patisserie business, was acquired in May 2007.
Mark Sheehan, Managing Director of Coffer Corporate Leisure, commented: "Distress is creating opportunities for those investors and operators already active in specific sectors. This is a classic opportunistic acquisition on behalf of a client already active and able to make a very quick decision to act decisively. Speed and funding are everything in this environment."