British Corner Shop sale sees the transfer of all 28 jobs in the UK and 23 jobs in The Netherlands.
Thursday March 30, 2023
FRP secures sale of British Corner Shop to Rcapital.
The Bristol-based business was established in 2004 and sells more than 6,000 British food products to expats worldwide using its own direct to consumer operations and through online marketplaces. The company operates from a head office and warehouse facility in Yate, Bristol and a distribution hub in the Netherlands.
British Corner Shop faced operational challenges following Brexit and through the pandemic, which led to the need for an accelerated M&A process. Jonathan Dunn and Andrew Sheridan were appointed Joint Administrators on Wednesday 29 March 2023 and immediately completed the sale of the business and assets to Rcapital.
The transaction with Rcapital, which includes the UK operations and the share acquisition of British Corner Shop’s Dutch subsidiary, ensures the transfer of all 28 jobs in the UK and 23 jobs in The Netherlands. Rcapital will continue to trade British Corner Shop as it supports the long-term recovery of the business.
Joint Administrator of British Corner Shop Limited, Director Jonathan Dunn, said: “British Corner Shop has been a well-known growth story here in Bristol and is relied upon by more than 600,000 expats around the world for a taste of home. While Brexit and COVID had considerable impact on the business and its ability to keep trading, the proposition has strong fundamentals. The accelerated M&A process has provided investment for business as Rcapital looks to realise the business’ potential. We would like to thank CEO Tom Carroll and FD Nicky Walton for their considerable assistance through this process and wish them and the business all the best in this new partnership.”
Chris Campbell, Partner at Rcapital, said: “Rcapital’s investment offers British Corner Shop an exciting opportunity to build its global expat market share by capitalising on its strong brand, worldclass technology platform and distribution network. Our financial expertise will support the management team as they take the business into a new phase of growth and development.”
FRP were advised by TLT LLP and Gordon Brothers and Metis Partners.