Carey Olsen's corporate team acted as lead counsel for a
Channel Islands consortium of buyers in their acquisition of
Sandpiper, the Channel Islands' leading retailer with
franchises that include Marks & Spencer, Iceland, Costa and
The consortium has been assembled by Ravenscroft Limited and
includes Bailiwick Investments Limited, Sealyham Investments
Limited and other Ravenscroft Limited private clients. The
Sandpiper management team, led by Tony O'Neill, will be
investing alongside the consortium and will continue to lead the
Carey Olsen advised the consortium on all aspects of the
purchase, providing them with full-service corporate and other
specialist advice, including property advice.
Our pan-Channel Island team included corporate partner Mike
Jeffrey, senior associate James Willmott (who led on the deal),
Guernsey partner Tony Lane and Jersey associate Katherine Tresca.
Partners Chris Philpott and Jason Morgan, together with senior
associates Will Whitehead and Jonathan Anderson, provided property
advice across the Channel Islands.
Fintan Kennedy of Sealyham Investments Limited said:
"Having engaged Carey Olsen on several M&A transactions,
they have once again demonstrated a proven ability to deal with a
range of pan-Channel Islands issues across a number of practice
areas. We had full confidence that they would deliver in line with
our strategic direction using their team's valuable onshore and
Jersey corporate partner, Mike Jeffrey, said: "We have
enjoyed a long association with Sandpiper and this is an exciting
development in the company's history. To be selected to advise
on the biggest retail acquisition of the year in the Channel
Islands is testament to the reputation we have built in advising on
these types of transactions. The investment strategy of the
purchasers is to invest in local, pan-Channel Islands businesses
with a view to long-term holdings, which is a positive development
for the businesses and staff in both islands.
Senior associate, James Willmott, said: "Carey Olsen's
corporate team is noted for its strength in advising on mergers and
acquisitions, especially in the Channel Islands and that experience
was brought to the fore in this transaction, which was particularly
complex because of the number of franchises and properties that it
The successful completion of the transaction is subject to the
usual competition regulatory approvals.
Carey Olsen's corporate team advised on the sale of
Cimandis, the wholesale and food distribution business of
Sandpiper, to Bidvest Foodservice International; the £41.7
million sale by the Scott family of the
Jacksons CI Group to a consortium led by Bailiwick Investments
Limited; and acted for
Sandpiper on the sale of five supermarkets across the Channel
Islands to Waitrose.
Other recent M&A deals include acting for
JTC on its acquisition of Kleinwort Benson's fund
administration business, the sale of Fiduciary Management Ltd to
Vistra and advising
Aviva on its £5.6 billion takeover of Friends Life.
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