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Let’s TalkKliro Capital Partners Acquires Intercontinental Brands in the United Kingdom
Kliro Capital Partners, a family office based in Haslemere, United Kingdom, acquired Intercontinental Brands, a spirits brand owner, manufacturer, and distributor based in North Yorkshire, United Kingdom, on July 17, 2023. This acquisition is the first for Kliro Capital Partners.
Transaction Summary
The Facts of the Acquisition
- Target: Intercontinental Brands, formed in 1990, is a manufacturer and distributor of alcoholic beverages. It is based in North Yorkshire, United Kingdom, with a production unit 50 miles away in Middlesbrough. Brands include Cactus Jack, Veroni Amaretto, V-Kat, Hawksbill Rum, Rozél Vodka, and Bella Apertini.
- Acquirer: Kliro Capital Partners, formed in 2020, is a family office based in Haslemere, United Kingdom. The management team has experience in the beverages industry, and the company’s mission is to invest in the UK consumer goods sector.
Our Take on the Acquisition
This is the first investment by Kliro Capital Partners (acquirer), and it has acquired 100% of the company. The management team has 12 years of experience in the international drinks industry. The financial performance of Intercontinental Brands (target) has been improving over time. Kliro has stated that it sees growth potential in the beverages sector and is willing to invest additional funds into the target to fund future growth.
The Transaction
| Date: | July 17, 2023 |
| Price: | Undisclosed |
| Purpose: | To invest in the alcoholic beverages sector. |
| Acquirer’s Statement: | Warren Scott, founder of Kliro Capital Partners – “We are delighted to have completed the acquisition of ICB [Intercontinental Brands]. It is a good business with a strong leadership team and we believe that there is significant potential for growth both in the UK and beyond. We are committed to working closely with the ICB team to maximise the company’s potential through driving the pursuit of excellence in the drinks industry. This is the first step in our strategy to create a leading group supplying a diverse range of drinks products to UK retailers and 3rd party brand owners.” |
Target/Seller: Intercontinental Brands
Company Information
| Target: | Intercontinental Brands |
| Website: | icbrands.co.uk |
| Founded: | 1990 |
| Industry: | Alcohol Manufacture and Distribution |
| Type: | Private |
| Employees: | 61 (Self-published on LinkedIn) |
| Locations: | Head Office: 4 Sceptre House, Hornbeam Business Park, Harrogate, North Yorkshire, United Kingdom Production Division: Intercontinental Brands, Murdock Road, East Middlesbrough Industrial Estate, Middlesbrough, United Kingdom |
Product Information
| Services: | Bottling – Process of putting drinks in bottles for sale to the public Distillation – Process of separating the components from a liquid mixture by using selective boiling and condensation |
| Products: | More than 500 SKUs, including: Amaretto – A sweet liqueur made from apricot kernels, almonds, and peach. Generally contains 21-28% ABV (alcohol by volume) Gin – A distilled alcoholic drink with juniper berries and other botanical ingredients Rum – Liquor made by fermenting and then distilling sugarcane molasses. Schnapps – A type of dry spirit with high alcoholic content that may have herbal or flavored infusions Vodka – Clear, distilled spirit made from fermented cereal grains and potatoes. |
| Market Reach: | United Kingdom |
Financial Information
| Revenue: | GBP £40.65 million (USD $54.88 million) Source: Companies House, the UK equivalent to the U.S. SEC |
| Revenue per Employee: | GBP £666,394 (USD $899,672) – i.e., GBP £40.65 million / 61 employees = GBP £666,394 – estimated based on the self-published number of employees and the revenue from Companies House. |
Did You Know?
The average British household spends GBP £16.70 a week on alcoholic drinks, according to NimbleFins, a research and personal finance site. That’s roughly 3% of the average household budget. In the United States, the average spend is roughly USD $11, or 0.8% of the average household budget, according to the U.S. Bureau of Labor Statistics.
Target/Seller Overview: Intercontinental Brands
Founded in 1990, Intercontinental Brands has evolved into a fast-paced and dynamic company. The business was born out of developing products aimed at the student market. It has moved with the times to expand into a wide range of products, keeping pace with market trends and a vision for the future drinks landscape. The company focuses on producing innovative and outstanding quality beverages for the worldwide market.
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Explore Your Options NowBuyer/Acquirer: Kliro Capital Partners
Company Information
| Buyer: | Kliro Capital Partners |
| Website: | klirocapital.com |
| Founded: | 2020 |
| Industry: | Investment Management |
| Type: | Private |
| Employees: | 5 (Source: company website) |
| Locations: | Head Office: Stable Cottage, Furnace Place, Killinghurst Lane, Haslemere, United Kingdom |
Investment Areas
Financial Information
| Revenue: N/A |
Buyer/Acquirer Overview: Kliro Capital Partners
Kliro Capital Partners is a family office with a strong management board with extensive experience in sectors including the drinks industry. It is owned and led by Warren Scott, a former investment banker. Kliro invests in target companies valued between GBP £10-5o million (USD $13-65 million) and is mainly interested in the UK consumer sector.
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Sources
- Companies House – equivalent to the Securities and Exchange Commission (SEC) in the United States:
- Company Profile
- Other Sources