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Stock Spirits Group £767m buy-out by CVC
Numis acts as joint financial adviser and joint broker to Stock Spirits Group plc (“Stock Spirits”) on its £767m buy-out by CVC.
We are delighted to have played a prominent role in supporting Stock Spirits on its £767m buy-out by CVC, a leading private equity firm, for which the scheme of arrangement became effective today.
Stock Spirits is one of the leading owners and producers of branded spirits and liqueurs, with products principally sold in Poland, the Czech Republic and Italy. The business has a portfolio of more than 70 own-branded products as well as a further 70+ third party brands which are distributed in over 50 markets around the world. We’re proud that our long-standing relationship with the business has been further strengthened thanks to our advisory role on this offer.
The offer price of 377p per share, which was the fifth of five unsolicited proposals from CVC, represented a 41% premium to the closing price and a 42% premium to the three-month volume weighted average price at close of business on 11 August 2021, the last business day before the launch announcement.
The offer price of 377p per share, which was the fifth of five unsolicited proposals from CVC, represented a 41% premium to the closing price and a 42% premium to the three-month volume weighted average price at close of business on 11 August 2021, the last business day before the launch announcement.
"We were appointed as adviser to Stock Spirits after their tricky start to listed life and supported the team as they rebuilt the trust of investors through a bespoke programme of investor relations and communications. Our regular provision of discrete financial advice on their M&A strategy also enabled us to leap into action when this takeover process began.”
We provided key input on value and tactics, as well as process management and shareholder insight. The offer received the support of major shareholders with over 95% of votes in favour, demonstrating the attractiveness of the deal and the strength of our integrated advisory and broking offering.
“The advice and stewardship that Numis provided Stock Spirits has been first rate. Luke and the Numis team were core to rebuilding our investor profile and shareholder register over the last five years. Numis’ specialist M&A advice was seamlessly integrated into that longstanding relationship between us. This strength of understanding between us proved crucial in our deliberations and decision making as a board through the five proposals we received from CVC.”
"The successful execution of yet another 2021 public to private transaction reinforces Numis’ excellent credentials as a leading financial adviser on UK public offers. It is fantastic to see Numis once again providing a long-term client with quality, independent financial and tactical advice and robust shareholder insight.”
This transaction is a great outcome for Stock Spirits Group plc and our deal team deserve a huge congratulations.
The deal team at Numis was led by Stuart Ord and Luke Bordewich.
The deal team at Numis was led by Stuart Ord and Luke Bordewich.
For further information, please contact your Numis representative.
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