SHS Group strikes deal to buy owner of Sunny Jim in portfolio-boosting move
The Northern Ireland owner of consumer brands including Shloer and WKD has bought a fire products company that will bring even more household names into its portfolio.
SHS Group said it had paid an undisclosed sum for Standard Brands, which produces Sunny Jim firelighters and the Zip range of fire products.
Standard Brands has a sales office in Surrey, but carries out most of its manufacturing in Co Louth and employs 110 people.
The deal by SHS Group, one of Northern Ireland's most successful companies, will have to be approved by the Irish Competition and Consumer Protection Commission. However, contracts have already been exchanged.
SHS is also a major supplier of own-label herbs and spices in the UK, and distributes other brands such as Mars drinks, Ryvita, Jeyes and Dettol in the UK and the Republic of Ireland. It owns the Bottlegreen range of cordials, as well as Maguire & Paterson matches, based in Dublin.
With the purchase of Standard Brands, it now has 880 staff.
In its most recent results, SHS reported pre-tax profits of £21.1m on sales of £379m.
Standard Brands managing director Terry Coates, who will retain day-to-day management of the business, said: "We are delighted to be joining the SHS Group, which is committed to safeguarding the heritage of our business and market-leading products.
"It is an exciting time for Standard Brands and we look forward to working with the SHS management team to capitalise on the many growth opportunities we now have."
SHS Group chief executive Elaine Birchall added: "Standard Brands complements our portfolio, consolidating our position in core markets and extending our brand footprint abroad.
"We look forward to working with Terry and his team across our combined categories and geographies."
Belfast law firm Carson McDowell and EY Transaction Advisory Services acted as advisers to the SHS Group.
Catalyst Corporate Finance acted as chief advisor on the transaction for the sellers, together with Goodwin Proctor.