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In a statement explaining the reasons for its offer, CVC Funds’ Bidco investment arm said: “The future development of Stock Spirits will be best served as a private business, operating with a leaner central overhead, with rapid access to capital and with the benefits of a longer-term investment approach.”
“The directors of Stock Spirits are confident in the long-term prospects of the Stock Spirits Group and believe that the offer reflects our strong position and represents compelling value for Stock Spirits Shareholders,” said David Maloney, chairman of Stock Spirits.
“We believe that CVC’s support for our existing strategy and the investment that it intends to make in order to grow our business means that this offer will benefit all of Stock Spirits’ stakeholders. We are therefore unanimously recommending the offer to Stock Spirits Shareholders.”
Source: City A.M.
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