Mon, 08 Jun 2020 | BUSINESS SALE
Plymouth-based Scram Group Ltd. has acquired Cotswolds-based pet and lifestyle brand Mutts & Hounds for an undisclosed sum. The deal was brokered by Bath-based boutique corporate adviser Lucas & Weston Ltd.
Founded in 2011 by director Laura Gough, Mutts & Hounds has grown to become a company with turnover of £500,000 and 8 staff. Its products are stocked in over 200 stores, including Harrods, Joules and Fortnum & Mason. It also retails via boutiques in 18 countries and through its website.
The company has continued to trade well during the coronavirus lockdown. No jobs have been lost and the company sale price was not renegotiated.
Scram Group manufactures and retails a range of sports, lifestyle and pet products. It was advised on the deal by Matt Cook from Bright’s Solicitors in Plymouth. Mutts & Hounds were advised by Victoria Lewis and Annie Hill of Mogers Drewett in Bath.
Scram Group chief executive Richard Corsie said: "We're now on a mission to build the UK's leading pet products lifestyle business delivering first-class customer service with a strong online and retail presence. We look forward to working with Laura to increase the brand in the market."
Despite the ongoing COVID-19 pandemic, the business attracted considerable interest. Lucas & Weston reported receiving four offers for the company, as well as 43 initial expressions of interest and 22 NDAs from both trade and private investors.
Lucas & Weston managing director Howard Weston added: "With the uncertainty of Brexit last year and the COVID-19 lockdown, this deal has had a challenging timescale and saw multiple parties expressing interest.”
"Following strong demand from the sector, we’re delighted to see Mutts & Hounds go to a new home and wish both parties continued success.”
"This is our second deal to complete during the lockdown following the acquisition of Jaytech Fire Services Ltd for a client before Easter. There is strong investor demand for quality businesses with a sustainable future which is encouraging to see."
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