Company News, Deals
Sale of Phaseolus
1–2 minutes
We advised the directors of Phaseolus Ltd on its sale to Place UK, one of the nation’s leading and most diverse suppliers of soft fruit.
Company background
Headquartered in Bottisham near Cambridge, Phaseolus provides individually quick frozen (‘IQF’) pulses and beans to the UK food manufacturing industry. In addition to high-demand products like red kidney beans and chick peas, Phaseolus also supplies borlotti and cannellini beans, haricot, lentils and split peas.
What was special
Place UK had a longstanding relationship as a supplier to Phaseolus, providing the services of cooking and freezing beans and pulses. Place recognised that Phaseolus would be a good fit with their business; and with a pipeline of new products to introduce, Phaseolus’ prospects for growth are only strengthened by its new position as part of a larger group.
Deal structure
Sale of shares to large corporate purchaser.
Please note that this content is not intended to give specific technical advice. It is designed to highlight some of the key changes rather than provide an exhaustive explanation of the topics. Professional advice should always be sought before action is either taken or refrained from as a result of information contained herein.
