B7 picks up gardening firm in first deal
MANCHESTER-based b7 Ventures, the newly-launched investment vehicle set up by Ben Shapiro and Richard Shonn, has announced its first deal – the acquisition of gardening supplies firm Doff Portland.
Doff has been acquired from the Whyatt Family, Enterprise Ventures and Turning Point.
The deal will see b7 develop the Nottingham-based brand which supplies items such as weedkiller, slug pellets and lawn feed.
Overseas sales growth is planned along with partnerships with Shonn’s own business – 151 Products – a manufacturer and supplier of discount household, garden and DIY goods.
Shonn and Shapiro will join Doff’s board of directors and all of Doff’s existing product lines will continue to be produced under the direction of the current management team, including chairman, Graham Whyatt, and managing director, Matt Jones.
The corporate team at Manchester law firm Pannone advised b7 on the acquisition and Yorkshire Bank will continue to support the business post acquisition.
Ben Shapiro was formerly the northern director of distressed investors, Hilco UK and Valco Capital Partners.
He said: “This is the first of a number of strategic acquisitions for b7 within the consumer goods sector. We are confident this move will be mutually beneficial to both Doff and 151 Products.”
Matt Jones, managing director of Doff Portland, said: “We’re absolutely confident that this is the right move for Doff Portland and our existing customers, as they will benefit from the continued development of our garden care products.”
