RICKITT MITCHELL ADVISES ON ACQUISITION OF HTC GROUP LTD
Rickitt Mitchell has advised North-West based MCI Health Investments Ltd (“MCI”) on the acquisition of HTC Group Ltd (“HTC or the Company”) Headquartered in Watford, the Company is a leading independent provider of bulk health supplements to healthcare, beauty and independent retailers across the UK. Customers include Holland & Barrett, Boots and The Hut Group.
Originally founded in 1983, the business enjoys a strong market position as a trusted partner offering an excellent selection of high-quality vitamins, minerals, sports nutrition and dietary aids. By focusing on consumer needs and health supplement developments, HTC is able to deliver both changing formulations and delivery mechanisms that allow its customers to stay relevant.
HTC has longstanding relationships with a number of globally important supplement manufacturers. With a first class reputation for quality and service, the business is able to offer bespoke, end-to-end product solutions from bespoke formulation through to contract packing and label design.
HTC is forecasting £25 Million turnover with an EBITDA of c.£3M. The management team, led by Peter Groves (MD), will remain in the business beyond the transaction to further drive the growth of the business.
Commenting on the acquisition, David O’Brien, a Director of MCI, said: “HTC offers a high-quality product following decades of research and development of their formulas. We are delighted to have invested into the natural health and well-being a sector which continues to be a strong choice for people of all generations and look to grow the offer across various platforms.”
MCI was advised by Neil Mitchell and Robert Bennett of Rickitt Mitchell and a team led by Elizabeth Delaney and Seraphina Wilkins from law firm TLT.
Grant Thornton’s Manchester office provided financial and tax due diligence on the transaction.Back to news