Natural health supplements business seals management buyout
A natural health supplement manufacturer and retailer has undergone a management buyout as it looks to build on its expertise and expand its product range.
York-based Sweet Cures has been acquired by a new company – Sweet Cures Limited – led by the management team, Bryan Sun and Dave Smith, who have both worked with company founder Anna Sawkins for over 12 years.
As part of the deal, Sawkins retains a stake in the business and will continue to work in consultation with the new management.
The MBO was completed with support from banking partner Louise Duffy and corporate solicitor Stephanie Brown at independent commercial law firm Muckle LLP.
Duffy and Brown helped to structure the agreement alongside tax advice from corporate finance director Stephen Garbett of Garbutt + Elliott accountants.
Established by Sawkins in 2002, Sweet Cures specialises in products derived from healthy and essential sugars, which includes its signature Waterfall D-Mannose product – developed to support bladder health and distributed throughout the world.
Major customers include NHS Hospitals nationwide and pharmacies across the UK and Europe, with Sweet Cures essential oils Soil Association registered.
Sawkins said: “The Sweet Cures brand is synonymous with purity, safety and unrivalled customer service.
“Since its inception, Sweet Cures has developed an enviable reputation, supplying customers across the UK and internationally, as far afield as Australia.”
Bryan Sun, Sweet Cures director, added: “Anna has done a fantastic job of building the business and the new company is committed to maintaining and building on the excellent standards already established.
“At the same time, we have plans to fulfil our ambitions of expanding the business, following the example of other natural remedy businesses such as Holland and Barrett and iHerb, which both grew from small product ranges.
“We are looking forward to developing more options for our customers and will continue to provide the very best products and the same premium service, whilst aiming to make our customers’ experience even better as the business grows.”
Louise Duffy, partner and head of banking at Muckle LLP, said: “It has been a pleasure to work with the team at Sweet Cures on this management buyout.
“The team has built a strong business with massive growth potential and it is great to see this success amidst such a challenging climate.
“With an exciting future ahead, the new management team at Sweet Cures are capitalising on their combined wealth of experience and the opportunity that exists in the market, and I see nothing but encouraging signs for the future of the business.”