Langholm acquires Purity Soft Drinks in MBI

The deal was valued in the £10-20m range. Langholm took a majority stake in the business, while management and Mike Cox gained minority interests. Cox will continue to work with the new owners, according to the GP.

This transaction represents the third investment from Langholm's second fund, Langholm Capital II, which is now more than 40% invested. Key investors in the fund include Unilever and Rabobank.

Langholm's main objective for the business is organic growth but acquisitions will also be considered.

Debt
Debt was provided by HSBC in Birmingham.

Company
Purity Soft Drinks was established in 1892 in Wednesbury, West Midlands. It has been run by the Cox family since 1944.

The business includes brands such as returnable-bottle operation Masons and fruit juice brand Juice Burst. It has a turnover of £16m.

People
Oliver Wyncoll led the deal for Langholm. Gary Nield was appointed CEO, taking over from former owner Tim Cox.

Peter Unsworth will be non-executive director and Mike Cox will keep his role of production director.

Advisers
Equity – Mills & Reeve (Legal).
Company – Hawkins Hatton (Legal).
Management – Travers Smith (Legal).

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• Topics
• UK / Ireland
• Buyouts
• Consumer
• Langholm Capital Partners LLP
• United Kingdom
• Travers Smith
• Mills & Reeve
• Hawkins Hatton