Jamieson is pleased to announce that it has advised Nish Kankiwala (CEO) and the management team of Hovis on the sale by Premier Foods and Gores Group to Endless Private Equity.
Hovis is an instantly recognisable British bread brand which enjoys great support from its customers and suppliers. It has seen strong growth in its branded market share and the business is well placed to capture further share of the UK’s £4 billion overall bakery category. With headquarters in High Wycombe, the business employs over 3,000 people and operates eight bakery sites, its own flour mill and a distribution network spanning the UK and Northern Ireland.
Hovis chief executive officer, Nish Kankiwala, commented: “Based on our extensive engagement with Endless over the past several months, it became clear that both parties share a commitment to customers and colleagues and for building on Hovis’s heritage by investing in growing both the brand and product range.
Stuart Coventry, Stephen Maxwell and Jack Yang advised the management team on their reinvestment in the new structure and the terms of the new management equity incentive.