Professionals: Yorkshire advisors pop up for £7m Propercorn deal; Law firm launches public policy unit ahead of Brexit

A TEAM of Yorkshire advisors have worked on a major deal which saw a £7m investment in Propercorn, the UK’s fastest growing popcorn brand.

Sentio Insight provided financial due diligence to Piper PE and JamJar, the latter set up by the innocent smoothie founders, for their joint £7m investment in the brand, which was founded in 2011 by Cassandra Stavrou, recent winner of the New Generation Award at the Veuve Clicquot Business Woman Awards, and former sustainable property development director Ryan Kohn.

The brand’s first customer was the café at Google’s London headquarters, where it became the most popular snack from 48 alternatives. Since then, Propercorn has gone on to sell more than three million bags of popcorn per month. As consumers continue to seek healthier and more interesting snacks, sales of Propercorn gluten-free popcorn are forecast to rise from £10m in 2015 to over £15m this year.

Following more than five years of support and mentorship from the innocent drinks founders, Propercorn now looks to the entrepreneurial expertise of Piper and JamJar to help grow the brand’s global presence.  Strong demand is being experienced across all 10 countries where Propercorn is currently sold overseas, particularly in Germany, the Netherlands and Ireland. The business employs 40 staff at its London office.

Piper is the leading specialist investor in consumer brands, while JamJar is the investment vehicle for the three innocent founders.  

Financial due diligence was provided by Ian Robinson from Sentio Insight and Russ Cahill from Tax Advisory Partnership.  Piper was also advised by law firm Bond Dickinson, while Joelson acted for Propercorn.

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LAW firm Pinsent Masons is set to launch a UK-wide Public Policy unit following an increase in client demand for advice on government relations in the wake of Britain’s decision to exit the European Union.

The firm has appointed Andrew Henderson, currently head of public affairs and external relations at RBS’ Williams & Glyn brand, to lead the initiative.  He will join the firm as director of public policy in September.

With over 16 years’ experience in the public policy and strategic communications industry, Mr Henderson previously worked as a director in the Public Affairs unit at law firm DLA Piper.

He will be tasked with transforming and expanding the firm’s existing public policy practice which was established in Edinburgh in the wake of Scottish devolution in order to help clients engage with the parliamentary process at Holyrood. In addition to continuing to support clients in Scotland, the firm will now offer public policy services across the UK.

The firm says the appointment comes at a “crucial time” for businesses as they seek to keep abreast of the UK’s impending negotiations with Europe over Brexit, and engage with government to ensure the needs of businesses are both represented and well-understood.

Richard Foley, senior partner at Pinsent Masons, says:  “Our intention for some time had been to develop a more comprehensive Public Policy service in the UK given the increasing centrality of regulation and hence government and parliamentary affairs to our clients. That sense has only been heightened by developments in respect of Brexit. One of the clearest messages we have had from clients is that understanding and engaging with the process around Brexit will be one of their number one priorities in the months and years ahead. Andrew is highly respected in his field. His unique skillset and experience will be invaluable to Pinsent Masons clients.”