Hancocks Group acquires JTS International
BDO recently provided financial/tax due diligence and tax structuring advice on the acquisition of JTS International ("JTS") by World of Sweets Limited, a subsidiary of Hancocks Group ("Hancocks"). Hancocks is the UK's market leading confectionery specialist and this acquisition will increase sales to circa £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. This acquisition enables Hancocks to widen both its customer and product base and grow the direct distribution part of the business significantly.
"After BDO’s work on the Hancocks Group MBO in 2012, we engaged their Transaction Services team for a second time, to assist us with the JTS acquisition. Once again we were impressed with their commercial approach and their ability to pro-actively manage their relationship with the management team at JTS, whilst keeping ourselves and our private equity backers informed throughout the process. I would be happy to recommend their services should I be asked to".
Mark Watson, Hancocks Chief Executive Officer