By Andrei Skvarsky.
London-based Moorgate Capital has acted as the exclusive financial adviser to British firm Lioncroft Holdings in acquiring 200m-euro ($225m) food and beverage wholesaler Lioncroft Wholesale (trading as East End Wholesale Stores) in a deal completed on June 30.
Lioncroft Holdings bought Lioncroft Wholesale from East End Foods, one of Britain’s largest Asian spice, lentil, pulses and rice specialists, Moorgate Capital chairman Sir Peter Heap said in a statement.
Lioncroft Holdings, Lioncroft Wholesale and East End Foods are all owned by different members of the Wouhra family and based in England’s Birmingham area.
Sir Peter cited financial data provider Refinitiv as putting global mergers and acquisitions for the second quarter of 2020 at $485.3bn, marking a year-on-year decline of 55 per cent.
The amount represented the lowest quarterly level in value terms since the third quarter of 2009, and the poorest quarterly performance in volume terms since the third quarter of 2004.
Moorgate Capital is a financial advisory firm. It provides advice on diverse types of transactions in various industries.
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