Browne Jacobson advises Nottingham's Orrsum as it joins global supply chain leader Li & Fung

UK and Ireland law firm Browne Jacobson has advised the shareholders of E J Orr Limited (trading as Orrsum) on the sale of the business to global supply chain leader Li & Fung. 

Orrsum is a global supplier within the hosiery, underwear and loungewear markets, delivering over 50 million pairs of socks annually to more than 5,000 retail doors worldwide. The Nottingham-based business, founded and built by William and Victoria Orr, has developed international partnerships with well-known brands and major retailers. 

The acquisition by Li & Fung, a leading supply chain management company, brings together Orrsum's expertise in hosiery manufacturing with one of the most extensive global supply chain networks in the world across 40 economies. Li & Fung has played a significant role in manufacturing apparel, toys, and various consumer goods for major North American and European retailers since becoming publicly traded in 1973 and subsequently delisting in 2020. 

Peter Allen, Corporate Partner at Browne Jacobson, led the legal team advising the selling shareholders throughout the transaction process. He was supported by a multi-disciplinary team including lead Corporate Associate Daniel Knowles, Trainee Solicitor Megan Murray, and Senior Associate Bethany Grummitt. 

The firm's specialist corporate tax team – including Partner Andrew Noble, Associate Christian Burchardt and Principal Associate Rebecca Burge – also supported. Commercial expertise was provided by Partner Cat Driscoll. 

Peter Allen, Corporate Partner at Browne Jacobson, said: "As a leading advisor on mid-market M&A and supporting UK brands scale internationally, we are particularly proud of our role in supporting this home-grown business. It was a pleasure to work with founders William and Victoria Orr on this significant transaction. The strategic acquisition by Li & Fung will provide Orrsum with access to one of the world's most extensive supply chain networks, positioning the business for continued growth in the international hosiery and loungewear markets." 

William Orr, Co-Founder and CEO at Orrsum, said: “Pete and his Brown Jacobson team, including Dan, Meg and Cat, supported us brilliantly through the whole transaction and provided us with responsive, practical and commercial advice at all stages. The process required significant effort and dedication from all advisers to get to completion and Browne Jacobson were a large part of that effort, working seamlessly and effectively with our financial and tax advisers KPMG and Duncan & Toplis.”

KPMG acted as corporate finance adviser, running the sales process, while Duncan & Toplis provided additional tax advice to the vendor. 

Li & Fung was advised by Herbert Smith Freehills Kramer on the legal aspects of the acquisition, with PwC's Hong Kong and UK offices providing financial and tax due diligence support.