03 August 2015

Carey Olsen advises on the sale of Cimandis

Carey Olsen has advised SandpiperCI on the sale of its Channel Islands wholesale food and distribution business, Cimandis, to the Bidvest Group.

The Bidvest Group is a global group of companies employing over 145,000 people in five continents. Its main UK business, Bidvest Foodservice (as was ‘3663’),employs more than 4,500 people and provides a comprehensive range of products and services to the food service, distribution and retail sectors from 28 regional distribution and support centres.

Carey Olsen advised SandpiperCI on the pan-island corporate and Guernsey and Alderney property elements of the transaction. The firm's team was led by corporate partner Mike Jeffrey, assisted by senior associate James Willmott and associate Paul Tominey, with specialist support from property partner Jason Morgan and employment counsel Huw Thomas.

Mike Jeffrey said: "To be selected to advise on one of the most important M&A transactions in the Channel Islands this year is testimony to our team's unparalleled reputation and expertise. We are pleased to be able to support our long-standing client on such a significant transaction."

Carey Olsen has advised the SandpiperCI group since its inception in the Channel Islands when it acquired businesses from CI Traders. The SandpiperCI group is backed by private equity houses Europa and Duke Street. Carey Olsen was also involved in the sale of SandpiperCI’s pubs businesses to the Liberation Group and the sale of five of its supermarkets across Jersey and Guernsey to Waitrose.

SandpiperCI Group Finance Director Stephen Harrison said: "Carey Olsen's M&A team has a proven track record in advising us on pan-island acquisitions and disposals, and we were confident in their ability to take the lead role on this strategic transaction.  Their lawyers bring valuable offshore and onshore experience to the table."