M&A Deal Summary

Pencarrow Private Equity Acquires Bell Tea

On September 13, 2013, private equity firm Pencarrow Private Equity acquired beverage company Bell Tea from Foodstuffs

Acquisition Highlights
  • This is Pencarrow Private Equity’s 1st transaction in the Beverages sector.
  • This is Pencarrow Private Equity’s 7th transaction in New Zealand.
Investment Fate
  • Bell Tea was sold to a strategic buyer in 2016.

M&A Deal Summary

Date 2013-09-13
Target Bell Tea
Sector Beverages
Buyer(s) Pencarrow Private Equity
Sellers(s) Foodstuffs
Deal Type Divestiture

Target

Bell Tea

Auckland, New Zealand
BrewGroup is a national coffee and tea business. The company has over a century of expertise in coffee and tea buying and blending. BrewGroup was established in 1898 and is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

Pencarrow Private Equity

Wellington, New Zealand

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 692M NZD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pencarrow Private Equity is a private equity firm focused on investing in New Zealand owned and operated businesses. Pencarrow looks to support management buyouts, management buy-ins, and provide expansion capital for companies operating in a variety of sectors. Areas of interest include building materials, distribution, manufacturing, consumer products, business services, and capital equipment. Target companies are typically valued between NZ$20 and $150 million where the Firm can commit $10 to $30 million in equity capital. Pencarrow Private Equity was formed in 1993 and is based in Wellington, New Zealand.


DEAL STATS #
Overall 7 of 24
Sector: Beverages M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: New Zealand M&A 7 of 23
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Home Ideas Group

Auckland, New Zealand

Home Ideas Group (Home Ideas) is a provider of home and building product display. Home Ideas operates exhibitor centres that offer space to companies that display a wide range of home products and services for homeowners, builders, renovators and architects to view efficiently in one space.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 BeGroup New Zealand

Auckland, New Zealand

BeGroup New Zealand provides affordable and modern retirement villages with a full range of care options, strong ties to the local community, and an emphasis on helping residents enjoy life to the fullest extent possible. BeGroup is based in Auckland, New Zealand.

Buy -

Seller(S) 1

SELLER

Foodstuffs

Auckland, New Zealand

Category Company
Founded 1922
Sector Retail
Employees1,700
DESCRIPTION

Foodstuffs (NZ) Ltd. is a grocery and liquor retailer. Foodstuffs provide a number of services including the co-ordination of policy and national activities, and represents the collective interests of the Foodstuffs companies in national marketing initiatives, public relations, industry affairs, Government affairs and in areas affecting the wider community. Foodstuffs was established in 1922 and is based in Auckland, New Zealand.


DEAL STATS #
Overall 1 of 1
Sector: Beverages M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: New Zealand M&A 1 of 1
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1962-01-01 Bell Tea

Auckland, New Zealand

BrewGroup is a national coffee and tea business. The company has over a century of expertise in coffee and tea buying and blending. BrewGroup was established in 1898 and is based in Auckland, New Zealand.

Buy -