Sponsored by
Sweet bit of business for Leeds wholesaler
A SECOND sweet manufacturer has been snapped up by growth hungry wholesaler Morris & Son just weeks after it acquired traditional sweet manufacturer Stockley's Sweets.
The 15m turnover Leeds-based wholesaler acquired the assets and goodwill of Sweet Luxuries, a specialist sugar-free sweet manufacturer based in Cleckheaton which supplies products under the 'Sugarless' brand.
The acquisition also marks the arrival of confectionary industry veteran Brian Siron to the business, further strengthening the Stockley's business.
The deal, structured by BTG McInnes Corporate Finance in Leeds, sees parent company Morris & Son take ownership of the Cleckheaton operation and secures the future of 15 employees.
"The acquisition will add over 1m sales in the coming year but more importantly adds additional industry expertise to our new Stockley's subsidiary," said Andy Needham of Morris & Son.
"Brian Siron has been involved in sweet manufacturing for over 30 years, running his own businesses and setting up manufacturing plants for some of the biggest names in the industry.
"His knowledge of product development, manufacturing techniques and the wider marketplace per se will vastly strengthen the Stockley's business."
The deal marks a massive change in fortunes for Stockley's Sweets which was in administration just four months ago, and whose future was secured when Morris & Son stepped in to bring the firm into the growing wholesale group.
"These businesses will all benefit from working together and we remain open to opportunities to continue the growth by acquisition of the right businesses," said Steve Roberts, of BTG McInnes who negotiated the acquisition.
The group now has factories in Accrington and Cleckheaton and distribution depots in Manchester, Blackburn and Leeds, with 95 staff.
Email to a friend
Print this page
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Leeds
Wednesday 23 May 2012
Today
Sunny spells
Temperature: 11 C to 24 C
Wind Speed: 12 mph
Wind direction: North east
Tomorrow
Cloudy
Temperature: 9 C to 22 C
Wind Speed: 12 mph
Wind direction: North east
