PE firm swallows Purity Soft Drinks
A BLACK Country soft drinks manufacturer founded more than 100 years ago is looking confidently to the future following its sale to a private equity firm.
Purity Soft Drinks in Wednesbury has been acquired by Langholm Capital, the consumer sector mid-market private equity firm, as part of a management buy-in transaction which sees Garry Nield appointed at the new CEO. The sum involved is undisclosed.
The company was first established in 1892 when it began supplying soft drinks by horse drawn dray to the licensed trade in and around the Black Country. It has been run by the Cox family since 1944, producing a range of fruit juices and soft drinks for retailers including its main Juice Burst brand which has developed a range of 100% juices stocked extensively throughout the UK.
The business also operates the UK’s last remaining returnable bottle soft drinks operation with products sold under the Masons brand.
Hawkins Hatton, the Dudley-based law firm, provided lead advice to the Purity Soft Drinks’ family shareholders. Following the deal Mike Cox will continue as production director, retaining a shareholding in the business, with Tim Cox retiring as managing director and his responsibilities being picked up by Garry Nield.
Nield has extensive experience in the wholesale sector having previously worked as CEO of Red Mill Snacks. He has been working at Purity for the last four months and together with Mike Cox will continue to drive Purity’s growth strategy backed by new investment from Langholm.
Nield said: “The family has successfully grown the business over a number of years, but this deal comes at the right time for Purity as it will provide the investment and impetus needed to further develop the company’s main brands and manufacturing capabilities.”
Colin Rodrigues, corporate partner at Hawkins Hatton, said: “Purity has developed a strong proposition for its wholesale customers and consumers and we were delighted to work with the Cox family to help bring about a successful sale which marks a new era for the company.”
HSBC’s Birmingham office provided the debt package for Langholm Capital.
