Wholesaler sells cash and carry division

Nottingham-headquartered food and drink wholesaler Hyperama has sold its cash and carry division to Holland Bazaar for an undisclosed sum.

Hyperama is one of the largest operators of cash and carry stores in the UK.

The dedicated business, based in Peterborough, will now transfer to London-based Holland, which is looking to extend its physical presence beyond the capital.

The corporate finance team at PKF Smith Cooper advised Hyperama on the deal, working closely with managing director Marcus Singh to “hive down” the firm’s Peterborough operation in preparation for the sale.

Singh said: “Peterborough is a predominantly food service-led depot, making Holland Bazaar well placed to take the reins. I am pleased that we have found a purchaser with shared values that will continue to invest in the Peterborough site for the benefit of our staff, customers and suppliers.”

Singh added that the guidance and support provided by PKF Smith Cooper was “critical to the successful completion” of the deal.

Darren Hodson, partner at PKF Smith Cooper, said: “We are delighted to have secured a successful deal for Marcus and Hyperama. This is another great example of the team’s ability to build and maintain momentum to deliver complex transactions at a swift pace.”

The transaction was funded by Turkish lender İşbank, while Penningtons Manches Cooper provided legal advice.

In 2018, Hyperama created a raft of jobs after landing a £15m finance package from HSBC UK which it used to refurbish its Nottingham warehouse.

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