Bermele PLC has purchased branded premium mixer specialist East Imperial in a deal worth more than £24 million, with the support of law firm Shakespeare Martineau.

In addition to the acquisition Bermele PLC also raised £3 million by way of a placing and will be re-admitted to the standard list and trading on the London Stock Exchange. Shakespeare Martineau supported the company in the acquisition and fundraising, having advised on its Initial Public Offering in 2017, then raising £1 million.

Pitted as Fever Tree drinks main competitor, New Zealand-based premium mixer supplier East Imperial produces and markets a line of 11 branded premium mixers that sell throughout the Asia-Pacific and the United States of America and has sights set on the UK market.

Anthony Burt, CEO of East Imperial, said: "Our London listing is an exciting opportunity for us to accelerate our growth and benefit from the increasing demand we've seen for ultra-premium mixers among consumers across the globe. We've got a great platform to build our market share across Asia, the US and Europe and we want to replicate our success in new regions including the UK.

"We'll also be investing in our multi-channel offer to deliver our premium mixers direct to consumers who want to enjoy them at home, a trend which has accelerated over the last 18 months."

Toby Hayward, non-executive chairman of Bermele Plc, said: "I am delighted that we are today announcing the proposed acquisition of East Imperial Pte. Ltd. Naturally we turned for legal advice to Keith and his team at Shakespeare Martineau, they having dealt with the original IPO and have been very pleased with their advice and assistance."

Keith Spedding, partner and business transaction specialist at Shakespeare Martineau led the international deal and re-admission on behalf of Beremele PLC, he said: "This is yet another example of a great investment made in international businesses by UK listed companies. Food and drink is a sector that continues to see growth and the additional funds generated will provide a springboard for the brand's entry into new regions and territories."

Keith was assisted by associate Jennie Davis and solicitor Gweni Rees-Evans. Tompkins Wade (New Zealand), Longbow Law Corporation (Singapore) and Smith Gambrell Russell (United States) supported on the overseas aspects. Fasken advised East Imperial.

The deal will see Bermele PLC acquire East Imperial for an aggregate consideration of £24.45 million and is conditional on shareholder approval. It is expected to be admitted to trading on 19 July 2021.