Sale of 152-year-old family business to one of the world’s largest coffee roasting companies
Matthew Algie, the Glasgow-based coffee roaster, has a proud 152-year history and had been family-owned since it was established in Greenock in 1864.
Following the death in 2008 of its sixth generation owner, David Williamson, the company had been owned by Mr Williamson’s estate held by a family trust. When the trust decided to sell the business it turned to Brodies, which advised on the sale of the firm to Tchibo Coffee Service GmbH, one of the world’s largest coffee roasting companies.
Brodies’ corporate team led the project, which illustrated its ability to advise on a complex deal, effectively managing many competing interests; deliver effective solutions to potential deal obstacles; and efficiently deliver focused, commercial and pragmatic advice to meet critical deadlines against a very tight timescale.
Tchibo will use the acquisition as a platform to expand its operations in the UK and Ireland with Matthew Algie continuing to operate as a standalone entity with the same brand, and being run by the existing management team. From the owner’s perspective, this historic deal achieved the best possible result for the business, its employees and the owners/beneficiaries.