A team led by Craig Hodgson completed the sale of Bowes of Norfolk Limited to Cranswick Country Foods Plc for a price of £17 million. The transaction was complex and involved acting for shareholders on the sale of their shares of Bowes of Norfolk Limited, a pre-sale section 110 demerger, the sale of the arable division and a management buy-out of the pig-rearing division.
Bowes is a pork processor and is the main supplier of outdoor reared pork products to Tesco. It has won numerous awards including an award from the RSPCA for its achievements in the Freedom Food programme and its promotion of outdoor reared pork products. The purchaser is a FTSE 250 listed company and is a major supplier of pork products to retailers, such as Sainsbury's and secondary processors. Bowes employs 700 people and has a turnover of £100 million.
Craig was assisted by Alex Kenworthy, Mary Prentice, Rebecca Laughton, James Hunter, Dawn Chapman, Caroline Dean, Matthew Short, Harry Scott, Simon Elsegood, Emma Keen and Zak Virgin, to name but a few.