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Yeo Valley Production Limited has acquired Epicurean Dairy (UK) Limited and The Collective brand in the UK. Law firm Thomson Snell & Passmore advised private equity backed, New Zealand-based, Epicurean Dairy Holdings Limited on the sale.
This acquisition brings together the broad manufacturing capabilities of Yeo Valley Production and the innovative, taste-led ranges for which The Collective is renowned. This ambitious new partnership will enable more opportunities for The Collective to deliver more great-tasting dairy to British fridges.
This agreement combines two businesses driven by their values. Yeo Valley Production’s focus on making natural healthy food from the most sustainable and ethical farming practices aligns perfectly with the social and environmental commitments in The Collective’s B-Corp accreditation. Together, the two organisations will help to deliver on Yeo Valley Production’s purpose to nurture and nourish both people and planet.
Yeo Valley Production Limited employs over 1,700 across five sites in Somerset and Devon. The company is independently owned by the Mead family alongside its employees in an Employee Benefit Trust and has been producing dairy in the UK since 1976. The Collective was originally started in New Zealand by two entrepreneurial chefs and has been bringing great tasting yoghurt to the UK since 2011.
Commenting on the transaction, Sarah Smart, CEO at The Collective UK said: “Yeo Valley Production is a long-time partner of The Collective and has been an integral part of the brand’s growth journey and success over the years. The close alignment of the businesses values and visions to deliver natural, healthy, great tasting and sustainable food that is better for people and planet, makes Yeo Valley the perfect home for the next stage of The Collective’s growth.
“I would like to thank all who have been on the journey with us to date including our loyal consumers, suppliers, customers and especially our incredible team who have passionately been the dairy shaker uppers.
“I look forward to The Collective building on this success further and continuing to deliver more great tasting innovative dairy to British fridges.
“We worked with the Thomson Snell & Passmore team on the sale of The Collective UK. They helped us navigate a transaction across different markets, time zones and with Australasian private equity ownership, as well as the sale to a close co-manufacturing partner. Despite the complexities the team were consistently professional, efficient and thorough in their approach and a pleasure to work with. We were grateful to have them on the transaction team.”
Rob Sexton, CEO at Yeo Valley Production Limited added: “We are delighted to welcome The Collective to the Yeo Valley Production family. The Collective brand is renowned for never compromising on the quality and market-leading taste of its products. Add this to the values of the business, encapsulated in its B-Corp accreditation, and we see this as a perfect fit with Yeo Valley Production. This agreement will ensure The Collective brand continues to deliver taste-led innovation and great value. Together, we have ambitious plans to drive growth of delicious British dairy. It’s an exciting new chapter for us all.”
Faye Cook, Corporate/M&A Partner, led the transaction team at Thomson Snell & Passmore. She was supported by Rachel Macmillan and Harry Roffey in the Corporate/M&A team. Due to the nature of the transaction, the deal necessitated a multidisciplinary project team, which included Nitzan Cohen advising on tax, Mathew Boyle on pensions, as well as support from Employment Partner, Ben Stepney, and Freya Vale on Commercial/Data/IP.
Faye Cook, Partner at Thomson Snell & Passmore, said: “This was a great deal to have advised on and showed the breadth and depth of, not only our, core Corporate / M&A team but also our wider commercial group. We were able to harness our previous expertise in PE backed, cross border transactions to bring a successful outcome for the client. It was a pleasure to work with The Collective team on the deal, and to work with Spayne Lindsay again on another transaction. Yeo Valley and The Collective clearly share many of the same values and have a great vision for future growth. We look forward to seeing them flourish together.
Shaun Brownell of Spayne Lindsay & Co acted as Lead Corporate Finance Partner on the deal, supported by Associate Director, Hannah Billings.
Shaun Brownell at Spayne Lindsay concludes: “It was a pleasure to work with Thomson Snell & Passmore on this transaction. We are always impressed with Thomson Snell & Passmore’s approach to commercial issues during a process and we will look forward to working with them again in the future.” page heading
