Fultons Foods is a frozen food retailer based in Yorkshire with over 80 stores located across the North of England.
The shareholders of Fultons were considering their options to realise value whilst securing the future of the business.
We assisted the shareholders in preparing for and executing the sale of the business. Our team spent time to understand the Fultons business model, how it was differentiated on the high street and what made it an attractive asset. The business was taken to market confidentially to a select number of potential strategic acquirors.
Once a bidder was selected, our team worked closely with Fultons’ management to support them through the due diligence and legal drafting phases.
Poundland represents a strategic buyer for the Fultons business. With investment from Poundland, Fultons will become a key part of the enlarged group through the supply of frozen and chilled food into Poundland stores.
We executed the transaction during the coronavirus pandemic and during a time of significant uncertainly over the broader economy.
The sale to Poundland represents an exciting new chapter for Fultons. Throughout the transaction, the Grant Thornton team showed strong support offering excellent guidance and advice.
Kevin Gunter Chairman, Fultons Foods
