ESO Investments acquires majority stake in Hamsard 3634

LONDON, UK: EPE Special Opportunities Limited (ESO) through ESO Investments 1 Limited acquired a majority stake in Hamsard 3634 Limited, a news release said.

Hamsard 3634 owns a collection of six heritage British homeware brands, including the iconic Kilner and Mason Cash marques, as well as Viners, Typhoon, Ravenhead and Price & Kensington. The Target Group develops and distributes a wide product range including jars, mixing bowls, cutlery, glassware and tableware.

Hamsard 3634 has achieved significant growth, benefitting from its strong relationships with its long-standing customer base, and more recently supported by structural trends including home cooking, sustainability and premiumisation.

It achieved sales of £35.6 million for the year ended 31 December 2020, representing year on year growth of 21 per cent. (with non-material net profits due to management charges that will discontinue going forward).

ESO will assist Hamsard future growth ambitions by supporting international growth and the development of a digitally led channel strategy.

As part of the buyout, ESO 1 invested £22.5 million (funded by cash reserves advanced from ESO). Following the Transaction, ESO has available cash of £20.0 million. The Transaction has no impact on the Company’s net asset value.

The Transaction is consistent with ESO’s focus on investing into small and medium sized enterprises (SMEs), partnering with management teams to create value through long-term business transformation.

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