Lanchester Group acquires luxury gift hamper firm in multi-million pound deal
The County Durham group has acquired Spicers of Hythe Ltd and its subsidiary One Up Golf Limited, which will now operate as part of Lanchester Gifts, the group’s specialist division which designs, develops and packs food and drink gifts for businesses, high street retailers and, through its website First4Hampers, consumers.
The seven-figure deal forms part of a longer term strategy for the Lanchester group – which includes Lanchester Wines, Lanchester Gifts, Greencroft Bottling, Lanchester Energy and Lanchester Property – that will see combined turnover increase towards £100m over the next 12 months.
Both Lanchester Gifts and Spicers, which was sales of £5m, will continue to operate as individual entities.
Tony Cleary, managing director of the Lanchester group of companies, said: “Spicers of Hythe has a long tradition of delivering exceptional range, quality and value of hampers making it a perfect fit for Lanchester Gifts.
“As a third generation family-owned business, managing director Ian Spicer has instilled many similar values and ethics as at Lanchester, which is also a family-owned business.
“The Spicers of Hythe team have done an excellent job of growing the business, which is renowned for supplying hampers of distinction and now is the right time to pass on the baton to the next stage in its evolutionary growth. We look forward to working with Ian and his team to provide our customers both new and old with exciting and innovative gift offerings.”
Kent-based Spicers of Hythe has been providing luxury hampers and gifts since 1926 and is a leader in the food gifting market in the UK.
Lanchester Gifts specialise in the design development and packing of branded and bespoke hampers, picnic baskets and gift boxes for the food and drink retail sector, working with a number of high street retailers, ecommerce and third party websites Lanchester’s buying team travels worldwide ensuring not only are the most competitive prices achieved, but that quality is never compromised.
One Up Golf was established over 15 years ago and acquired by Spicers of Hythe in 2008. It provides high quality, stylish and practical clothes perfect for golfing and also suitable for walking, tennis or general leisurewear.
Square One Law acted for the Lanchester Group, managing partner Alan Fletcher, who led the team said: “Having worked with Tony and the Lanchester Group for a number of years, I was delighted to support the further growth of the business. Spicers of Hythe are a great fit and I look forward to seeing the future development of the Lanchester Group.”