press release
Browne Jacobson proves itself more than Abel
26 October 2007
Midlands law firm Browne Jacobson has today announced that is
has advised the management team on an external
investment in Abel & Cole Limited one of the UK’s leading
suppliers of home delivered organic food.
Abel & Cole offers a comprehensive range
of organic produce, including meat, fish, dairy products and
groceries. It is renowned for its organic credentials and is well
placed to take advantage of strong growth in demand for organic
food.
The investment, which was funded by Phoenix
Equity Partners and Lloyds TSB, is the sixth investment from
Phoenix’s £375 million fund raised in April 2006.
Phoenix has partnered with the founder and
previous owner, Keith Abel, in this transaction, as well as the
existing management team.
Duncan Gibson, Abel & Cole’s Managing
Director, said “Abel & Cole is made up of a wonderful group
of people with a shared passion for both what we do and how we do
it. That commitment lies at the heart of our success. In Phoenix we
have found a partner who shares both our energy and our belief in
the future of delicious, organic and fairly traded food. They have
a wonderful track record for helping small entrepreneurial
companies handle the challenges of rapid growth whilst preserving
the things that make them special. This is an incredibly exciting
time for Abel & Cole”
Keith Abel, Founder of Abel & Cole, said
“Phoenix are a perfect fit for us. I didn’t want to sell up and
be shunted into retirement, and Phoenix are used to working with
entrepreneurs; they will let us carry on doing what we’re best at,
and support us with the rest of it. I think their approach is just
right for us – they’ll support and respect our values, let us get
on with what we know, and help us on the things we don’t know. All
of us at Abel & Cole are looking forward to working with
them.”
Browne Jacobson Partner, Nigel Blackwell, who
led the transaction for the management team commented "We were
really pleased to be able to work with the management team on this
buy-out. Abel & Cole is a thriving business and the investment
by Phoenix represents an excellent opportunity to develop and
expand its potential without the risk if losing its
identity."
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