Cripps lands role on Oddbins acquisition
Cripps Harries Hall has won a role on the acquisition of wine merchant chain Oddbins by Ex Cellar Investment. The Kent law firm advised the seller, French wine group Castel Freres, on the deal with partner Olivier Morel, who heads the firm's French corporates group leading the team.
August 12, 2008 at 03:16 PM
1 minute read
Cripps Harries Hall has won a role on the acquisition of wine merchant chain Oddbins by Ex Cellar Investment.
The Kent law firm advised the seller, French wine group Castel Freres, on the deal with partner Olivier Morel, who heads the firm's French corporates group leading the team.
Manchester-based firm Linder Myers advised Ex Cellar with the firm's head of commercial property and corporate commercial Paul Willan leading the team.
The deal saw Ex Cellar paying an undisclosed sum to buy around 175 Oddbins stores across England, Scotland and Ireland, as well as a franchise in France.
The transaction reunites Ex Cellar's managing director Simon Baile with Oddbins as his father Nick Baile ran the wine group with his colleague Dennis Ing during the 1970s.
Commenting on the sale, Morel said: "Castel are reviewing their worldwide strategy and also recently sold their water business. It will continue to focus on its core activity of wine and beer."
Castel acquired Oddbins for £57m in 2001 after it was sold by Diageo and Pernod Ricard following their joint takeover of the company's previous owners, Seagram.
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