January 2008

Hazlewoods LLP Advise on the sale of Freemans of Newent Limited


The Cheltenham based Corporate Finance team of leading firm of business advisers and chartered accountants, Hazlewoods LLP, led by partner Andrew Brookes, has recently advised on the disposal of Freemans of Newent (Holdings) Limited and its subsidiary, Freemans of Newent Limited.

Freemans, which was founded in 1953, is a poultry producer supplying chicken to a wide range of outlets from national supermarket and retail chains to local butchers.

The company was ranked 50th in the top 100 Gloucestershire businesses in 2007 with a turnover of £26.5 million.

The companies were acquired by Sun Valley, part of the international food group Cargill. Sun Valley already has a chicken processing plant in neighbouring Hereford and Freemans will strengthen their fresh chicken business, complementing their existing operations in Hereford and reinforcing their commitment to UK agriculture and customers.

Cargill is an international supplier of food, agricultural and risk management products and services, with a presence in 66 countries worldwide.

Commenting on the sale, Andrew Brookes, partner at Hazlewoods LLP, said: "We were delighted to assist the shareholders of Freemans in their disposal of the business. We worked closely with the shareholders over many months to ensure that they maximised their value. This was a particularly interesting transaction given the dynamics of the food and in particular the poultry sector during the process."

Legal advice for Freemans was provided by Rod Thomas and Alison Scott at Harrison Clark in Worcester, who specialise in advising on corporate transactions.

For further information on this press release, please contact:

Andrew Brookes
LLP Partner
ab@hazlewoods.co.uk