Higgs advises in sale of packaging solutions business

07 December 2021

The Higgs LLP Corporate team has been praised for helping to deliver “an excellent result” in the sale of an insulated packaging solutions business.

Higgs acted for the shareholders of Hydropac Ltd as the company was acquired by the FTSE 100 listed, Bunzl Plc.

Hydropac Ltd is a leading manufacturer of icepacks and temperature-controlled shipping systems.

The business designs and manufactures insulated packaging solutions that focus on maintaining chilled and frozen temperatures of food, pet food and pharmaceutical products during transit. It works with customers to design packaging that maintains thermal and visual integrity of customer products through the mainstream delivery networks to the consumer’s doorstep.

The deal will help Hydropac to take advantage of exciting opportunities and deliver on ambitious growth plans, its shareholders said.

Richard Griffiths, Head of Corporate Law at Higgs LLP, led the Higgs team which included specialist corporate law, corporate tax, employment law, and commercial property lawyers who advised the sellers in relation to the deal.

Hydropac Ltd shareholder Mike Collins said: “Throughout the process the support and comfort we received from Higgs was delivered in a wholly confident and friendly manner.

“Richard and his team had all bases covered, put in the extra effort when required and did their level best to deliver within the challenging timescale. 

“Given the same process again, I would work with the exact same team and make no changes. It was an excellent result.”

Richard said tight timeframes had made the deal more challenging but the firm was pleased to have helped conclude a prominent deal in the industry.

“This acquisition is just one of a number of significant deals we have been involved in this year – and the pipeline is as strong as I can remember,” he said.

“The whole team worked effectively and efficiently to offer the legal advice required to complete the transaction. We really enjoyed working with the shareholders on the deal and it is always rewarding to be able to deliver a successful outcome for our clients.”

Darren Hodson, Tom Joy, Joshua Gurton and Adam Rollason from PKF Smith Cooper provided corporate finance and tax advice to the sellers on the deal.

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