Liberty Corporate Finance is pleased to announce the completion of the Barclays Private Equity backed Management Buy-out of Welwyn Garden City based Bounty Group from its Canadian quoted owner, Kaboose Inc.
Bounty is the UK's favourite parenting club, providing information, support and products to UK families. With over 2.5m members Bounty has approximately 96% market coverage of the births in the UK. Bounty enjoys key partnerships with UK maternity hospitals and leading FMCG brands (such as Procter & Gamble, Kimberly-Clark, Unilever, Johnson & Johnson and ASDA), distributing over 3.5m essential product sample packs and 2.6m parenting guides to young families across the UK every year. Other services to its members include photography and financial products. Liberty have worked with the Bounty management team since 2004 when Bounty was originally bought out of Havas, providing advice and assistance with acquisitions, disposals, the sale of the business to Kaboose in 2007 and ultimately the MBO.
Liberty acted as lead advisors to the management team of Bounty. The debt was provided by HSBC and Lloyds Banking Group.
Simon Hill from Liberty commented; “We have worked with the management team for over 5 years helping them through a number of transactions culminating in their MBO out of Kaboose. We have seen the business grow and develop under different ownership and look forward to working with a first class team to fulfil their ambitions under the ownership of Barclays Private Equity.” Ian Beswetherick, Managing Director of Bounty commented; “Liberty have been our long standing advisors and were instrumental in delivering value to the management team, advising us in our dealings with the various parties to the transaction and ultimately helping us to complete our buy-out. We are already working with them to help us transform the business through its next phase of growth.”