Fladgate LLP has advised AIM listed LiteBulb Group (LiteBulb) on the acquisition of Meld Group Limited (Meld).
Meld has developed a portfolio of brands and products supplied to major retailers in the UK including Marks and Spencer and Sainsburys. As well as developing its own brands, Meld works alongside renowned brands such as Peppa Pig and Octonauts.
Contemporaneously with the acquisition, LiteBulb raised £3 million (before expenses) through a placing by its nominated adviser and broker FinnCap Limited. The majority of the placing proceeds will be used for working capital purposes.
LiteBulb’s acquisition of Meld will enhance the group’s position as a leading provider of niche innovative consumer brands and products, increase its portfolio of high quality brands and products, bolster existing relationships with mutual customers and provide cost savings through business synergies.
Simon McGivern, LiteBulb Group CEO, commented, “This, our second acquisition during 2013, is another step in our expansion strategy. The acquisition of Meld further positions LiteBulb Group as a leading developer of innovative branded products.”
Fladgate corporate partner David Robinson advised LiteBulb, with assistance from Sam Tye.