Stephens Scown helps Cornish Orchards’ cider hit the Fuller’s spot!

Leading South West solicitors, Stephens Scown LLP, recently acted for Cornish Orchards in a £3.8 million deal between them and London-based Fuller’s Brewery, taking just five weeks to complete this complex acquisition.

Announced by Michael Turner, Chairman of Fuller’s, as part of their full year results for 2012/13, the acquisition of Cornish Orchards is part of the good news message, which includes a 7% increase in revenue (to £271.5 million) for Fuller’s.

Not only is this good news for Fuller’s and their customers, but very much so for Cornish Orchards’ former owners, Andy and Penny Atkinson, with Andy staying on as managing director to continue to spearhead the business.

Christian Wilson, partner at Stephens Scown, said: “We are obviously delighted that an intricate deal between two quite different businesses was achieved in an extremely short timescale, with Fuller’s wishing to announce the good news as part of its annual results. Achieving this in just five weeks is an incredible achievement and shows the commitment of all parties to reach a successful conclusion. Food and drink producers within the South West have a reputation of excellence so it is no wonder that national players in this industry continue to look to the region for quality, inspiration and growth.”

Andy Atkinson, creator of award winning premium cider maker, Cornish Orchards, approached Stephens Scown for assistance with this deal due to their additional expertise in the food and drink business sector.

Andy said: “Doing a deal of this magnitude was a real eye opener. Having the reassurance of Stephens Scown acting for us was a relief – Christian Wilson orchestrated the whole deal, quickly picking up on the nuances of cidermaking and understanding my business, which was essential. Terry Falcᾶo brought wisdom and got to the point just when it mattered. My wife Penny played an essential part in industriously handling the frenzied assault of requests for documents and answers. We played a good game and I feel confident the outcome was win-win for all parties.”

He continues: “The deal was not only good for Fuller’s and for me personally, but also for the sustainability of jobs within the business. Best of all a great Cornish brand will be spotlighted in over 360 premium Fuller’s bars and hotels, which are found in exceptional locations throughout London.”

Cornish Orchards was started in 1992 by Andy as a diversification from dairy farming, and currently employs a team of over 20 local staff at their Duchy of Cornwall estate farm. The intention is to increase the volume of production at the Cornish Duloe site with Fuller’s investing a significant £1.5million investment in the business, which will result in additional staff recruitment.

Stephens Scown has over 40 partners and 230 staff across its offices in Exeter, Truro and St Austell. For more information visit www.stephens-scown.co.uk