Shaw & Co help former clients save award winning brand – Neptune Rum
Shaw & Co, the specialist corporate finance advisory firm is happy to announce that an inspirational British brand has recently been saved by one of its former clients.
Neptune Rum was most recently recognised as the worlds’ most awarded rum of 2018/19, winning Best British rum brand and best Barbados rum. Incorporated 2016 with registered office in Cheltenham, Gloucestershire, the brand has won more than 65 global awards since 2018.
The company had ambitious growth plans for the future, with the aim of securing world-wide travel retail distribution. But, as with many other businesses, the COVID-19 crisis jeopardised these projects. The pandemic has had a huge economic impact and as a consequence, Neptune Rum went into administration.
However, a positive development occurred on 18 June 2020, when James Strickland and his business partner Raymond Pugh purchased the business and its assets from the administrator, KRE Corporate Recovery. The new owners have ambitious plans for the business, including significant investment in the near future. The objective is to enable Neptune Rum to recover from the devastating effects of the pandemic, and to resume its growth plans.
Shaw & Co managed the deal, with Jim Shaw serving as the lead negotiator in the deal. James and Raymond are former clients of the firm, who helped them sell their recruitment business (Passionate About People) in September 2018.
Jim Shaw, founder and CEO of Shaw & Co, commented: “We have had an excellent business relationship with James and Raymond having assisted them in the sale of their previous business. When they approached us with the opportunity to purchase Neptune Rum, we were very pleased to help James and Raymond grasp this next challenge.
“We are very happy with the outcome. For James and Raymond this represents the start of a new chapter and for Neptune Rum it gives a platform the future, which was otherwise looking in doubt. The brand is international, but with headquarters in Cheltenham the deal maintains vibrancy in the local economy.”
James Strickland added: “Neptune Rum is an iconic British brand, having won over 65 global awards since 2018, and has had great successes in the recent years, most particularly in 2018/19. It was an excellent business opportunity for both Raymond and I. Of course, this is only the first step; much work is still required to secure the long-term future of the company.
“We would like to thank Jim and all his team at Shaw & Co for all their help, how they worked alongside John Workman at BPE Solicitors, their positivity, and their great level of professionalism shown throughout the whole process.”
Paul Ellison, Partner and the lead Administrator from KRE Corporate Recovery concluded: “There was considerable interest in this brand with over 65 interested parties and then several bidders at the end of the process. James and Raymond were impressive in their determination and I wish them every success in taking the brand forward.”