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Corporate Commercial Case Studies
Client has Specsavers in her Sight
Pearson’s corporate & commercial team have advised on a recent deal involving the acquisition of three Specsavers stores.
Amanda Pedder turned to Pearson’s Keith Kennedy for advice when she wanted to acquire shares in three stores from the High Street chain of opticians. The stores operate from premises in Swinton, Fallowfield and Wythenshawe.
Pearson’s corporate team advised Amanda on three Share Purchase Agreements, Shareholders’ Agreements put in place between Amanda and the other owners, as well as various commercial contracts between the three companies and Specsavers.
Commenting on the deal, Keith Kennedy said:
“The fact that we had three linked transactions meant that there were in excess of 70 legal documents, but we were able to streamline the process by working closely with the other advisers involved, including Specsavers’ in house legal team in Guernsey, meaning that the three deals all completed simultaneously. We are delighted to have helped Amanda to make the acquisitions and no doubt she and the other shareholders will now help to drive further growth at each of the stores.”
Pearson Team Advise on Management Buyout
Our corporate & commercial team recently advised on the management buyout of a £20m turnover family business.
Food manufacturer, Supreme Foods Limited, trading as Glendale Foods, based in Salford, has enjoyed a successful 30 plus years in the business and employs over 200 people.
Keith Kennedy, head of corporate & commercial at Pearson Solicitors acted for Glendale’s founder John Mortimer, and the other members of the Mortimer family, on the sale of their shares to the existing managing director and operations director.
Speaking at the time of the deal, exiting chairman John Mortimer said he had enjoyed working closely with the management team and was looking forward to seeing their future success. He added that he was confident that the excellent customer base and state of the art production facility would enable the new owners to further prosper.
Keith added: “We were delighted to have helped the Mortimer family realise the financial benefits of over 30 years’ hard work. This deal is typical of our experience in advising exiting shareholders in owner managed businesses.”