Fladgate LLP is advising investment firm Greybull Capital on the acquisition of 140 high street convenience stores from WM Morrison Supermarkets plc.
Greybull Capital, a turnaround specialist that led the takeover of travel business Monarch Group last year, together with a team of industry specialists led by retail expert Mike Greene, will take control of the 140 stores that trade under the M Local brand. Mike Greene is a longstanding client of Fladgate lead partner, Ian Brent. Fladgate introduced the management team to Greybull.
The cross-firm team is being led by corporate partner Ian Brent, assisted by partners Jeremy Whiteson (finance), Hamilton Forrest (tax), Eddie Powell (commercial), Richard Reuben (real estate) and Nick Mumby (real estate) and a team of eight associates, including Jamie Hamilton and Mike Tremeer.
Commenting on the transaction, Ian Brent said: “We are particularly proud of our involvement in this deal, as we were able to introduce the management team to the funders. We wish Mike, Greybull and the rest of the management team every success with their plans for the business”.