NEWS

Bon Bons (Wholesale) Ltd bag a sweet deal

June 30, 2019

A West Yorkshire confectionery business has acquired an importer, distributor and wholesaler of fine chocolates and novelties based in Milton Keynes.

Bon Bon's (Wholesale) Ltd has acquired hf Chocolates, which supplies luxury confectionery to customers ranging from independent sweet shops, to retail multiples and UK department stores.

The company was established in 1957 and purchased by Stephen Pain and Thelma Benke in 1999. The owners have now sold hf Chocolates in order to retire.

The business has been purchased in its entirety by Wetherby-based Bon Bon's, which provides luxury confectionery for high end independent retailers and visitor attractions.

Bon Bon's intends to preserve hf Chocolates' identity and strengthen the range, relationships and service that have been established across its customer base. The business will continue to be independently marketed under the hf Chocolates' brand creating a clearly differentiated proposition to that of Bon Bon's.

Steve Campbell, managing director of Bon Bon's, said: "The addition of hf Chocolates to our business underlines our ongoing commitment to the luxury confectionery market.

"Both businesses are focused on the independent speciality food sector and our purchase of hf Chocolates will mean all customers in this sector will continue to benefit from two very distinct business and product offerings, while enjoying the high levels of customer service and innovation that the market has come to expect from Bon Bon's."

hf Chocolate directors Stephen Pain and Thelma Benke will work closely with the team at Bon Bon's to ensure a seamless transition for its customers. Pain said: "We've worked hard to build hf Chocolates into the successful business it is today, so our decision to hand over was not taken lightly.

"We have known Bon Bon's for some time and believe its reputation for quality mirrors our own. It was vital that our business' new owners shared our passion and commitment to both quality and customer service, and we believe we've found the right custodians for our business as it moves into its next chapter."

The deal was facilitated by Leeds based Corporate Finance and Investment boutique Ignite Capital. Paul Thompson, managing director at Ignite Capital, added: "I am delighted we have found the right home for hf Chocolates and have worked tirelessly to find a buyer like Bon Bon's ever since Stephen and Thelma indicated they wish to retire and pass the business onto new owners.

"We had lots of interest since taking the business to market, but Bon Bon's were decisive and made their intentions clear from the start. The vendors and I believe we have found the best home for the business and we will look forward to seeing the business thrive in the future."

hf Chocolates and Bon Bon's sit within Lanchester Wines' Lanchester Gifts department which supplies a variety of gift box formats to retail businesses including major high street chains and online stores.

Short Budget Summary for Entrepreneurs

October 31, 2018

In his 2018 Budget speech, the last one before the UK leaves the European Union, Chancellor Philip Hammond rejected calls to scrap entrepreneurs’ relief, and went on to state that entrepreneurs are the “heart of our dynamic economy” in a post-Brexit UK.

Entrepreneurs benefit from a reduced tax rate of 10% on up to £10m of capital gains, compared to the normal rate of 20%, when selling shares in a company, which delivers substantial savings to shareholders.

There was speculation as to whether this relief would be abolished in the Budget and the good news for entrepreneurs is that they can still benefit from the reduced tax rate. For disposals on or after 6 April 2019 however, entrepreneurs must hold shares in a business for two years before selling in order to qualify for the relief, which is an increase from 12 months previously.

This move comes as part of the Government’s aim to ensure the UK is a leading global player within mergers & acquisitions. This guarantee from the government will help to drive activity in the UK, as both sellers and buyers realise the potential benefits associated with Entrepreneurs’ Relief.

If you are considering a company sale in 2019, now is the ideal time to begin the process.

Why not give us a call whilst market conditions remain favourable?

You can contact us on 0113 887 9825 to discuss your options for the future.

Ignite completes maiden acquisition

April 19, 2018

Ignite Capital Limited are delighted to announce their maiden acquisition; the purchase of Bristol based Albert E James & Son Limited, which completed on Friday 20th April 2018. The transaction delivered a seven figure return for the vendors Tim and Steve Jones, facilitating their retirement plans and also represents the first investment of Ignite’s developing portfolio.

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