N&Q: Iconic UK fambiz launches comedic ad; family office/private equity deals…

Warburtons works with top comedian in advert push

Bakery group and one of the UK’s best-known family businesses Warburtons has launched an ad campaign featuring one of the country’s best-known comedians, Peter Kay. The campaign – “Pride and Breadjudice” – depicts in a tongue in cheek way a love story that set the family bakery in motion 141 years ago. The advert also features Jonathan Warburton, the chairman of the company and a member of the fifth generation that presently own and run the business. Warburtons has for sometime branded itself firmly as a family business with its famous tagline “From our family to yours”. This latest advert continues that theme, but from a slightly lighter perspective.

Family office deals

A co-investment group linking Goldman Sachs and Edizone Holdings, the family office of the Benetton family, have submitted a joint bid for Italian packaging company Guala Closures, which is being auctioned off for more than €1 billion by Apriori Capital Partners, says Reuters.

Weston Hill Asset Management, which calls itself a mix between a family office and a private equity group, and targets mid-market companies, has bought a Spanish dental clinics business for €25 million, according to reports. Weston Hill is based in Madrid and is run by two brothers Juan and José María Garrido.

UK family office Apperley Estates has appointed Newcore Capital Management to provide asset management services across its portfolio, according to reports. Apperley Estates, which manages a portfolio of more than 500,000 square feet of commercial property, is the family office of the Apperley family.

Greybull, a family office run by members of the Meyohas family with support from a member of a wealthy Swedish family called the Perlhagens, has hit the headlines in the UK after Monarch Airlines was placed into administration. Greybull owns around 90% of Monarch. More details here.

Private equity/family business deals

European private equity fund CVC Capital Partners has failed to buy a 40% stake in the Israeli health and beauty chain Super-Pharm, which is controlled by the Koffler family. Management issues got in the way of the deal, say reports.

Minneapolis-based bakery group DecoPac has “participated in a growth recapitalization with affiliates of Snow Phipps Group”, say reports.  Financial terms of the acquisition were not disclosed. DecoPac is owned by the McGlynn family.

Private equity group Tricor Pacific Founders Capital has acquired a controlling interest in US-based Armand Agra and its subsidiaries: Sierra Meat and Seafood Company and Flocchini Family Provisions, say reports. Financial terms were not disclosed. Armand Agra is owned by the Flocchini family, who will retain partial ownership and the company will continue to be led by its president and CEO, Chris Flocchini.

Australian private equity firm Quadrant has bought a stake in-home care provider Sue Mann, which has been run as a family-owned business for 30 years and operates throughout the Central Coast, Sydney and Hunter region of the Australian state of New South Wales, says reports. 

Blackstone Group looks set to buy a majority stake in Indian based Comstar Automotive Technologies, according to local reports. Discussions between Blackstone and Chennai-based Comstar’s controlling shareholder – a private equity firm and the Chandaria family – have entered the final stage, say reports.

Family owned Nordstrom, a fashion speciality retailer based in the US, have yet to find an investor – and, time is running out, say reports. Nordstroms had supposedly found a buyout partner in Leonard Green & Partners and the private equity firm was reportedly closing in on a deal for about $1 billion to help fund the undertaking. But extra finance needed to do the deal hasn’t been forthcoming, say reports.