Consumer

Cavendish, the full-service investment bank for growth and investment companies, is pleased to announce that it has advised on the merger of Goedhuis & Co and Waddesdon Wine, a subsidiary of the Rothschild Foundation, which completed on 3 November 2023.

Both companies will initially continue to trade under their existing names while the two businesses are fully integrated, to ensure no disruption to clients or suppliers. The new entity, Goedhuis Waddesdon Limited, is poised to become a formidable presence in the wine industry, uniting exceptional wine expertise, prestigious portfolios and first-class levels of service to create an unparalleled destination for wine collectors, retailers and hospitality businesses seeking to elevate their standards of wine excellence.

Goedhuis & Co is a distinguished, multi-award-winning fine wine merchant with over four decades of experience, celebrated for its expertise in all the great wine regions, with a particular focus on Burgundy and Bordeaux. Waddesdon Wine represents wines from Domaines Barons de Rothschild Lafite and Edmond de Rothschild Heritage exclusively within the UK.  Waddesdon Wine also represents Hundred Acre and collaborates closely with esteemed wineries including Henri Bourgeois and Penfolds.

Chateau Lafite Rothschild will retain a shareholding in the newly merged Goedhuis Waddesdon Limited. Goedhuis Waddesdon’s headquarters will be in London Bridge and at the Rothschild estate, Waddesdon Manor which has recently opened its newly renovated cellars which house the largest collections of Chateau Lafite Rothschild and Chateau Mouton Rothschild outside of Bordeaux.

The lead advisers on the transaction were Lord Leigh of Hurley, Senior Partner, Rebecca McCredie, Director and Tom Holland-Hibbert, Associate.

Lord Leigh of Hurley, Senior Partner of Cavendish, commented:

“It has been a pleasure working with both the Goedhuis & Co and Waddesdon Wine teams. The partnership will enable the newly formed Goedhuis Waddesdon Limited to accelerate its expansion plans whilst remaining dedicated to its core offering. I look forward to watching its continued success.”

Johnny Goedhuis, Chairman of Goedhuis Waddesdon Limited, said:

“What makes this deal so special is the combination of Waddesdon’s extensive reach in the on-trade and their unique relationships with leading Bordeaux chateaux, with Goedhuis’ private client expertise and our extensive contacts in Burgundy and Italy. We are delighted to be joining forces with their great team and look forward to a shared future as a thrilling home for premium wineries and their clients.

• finnCap advises on fundraising for Ro&Zo
• Transaction completed by all-female founder team and all-female advisers

finnCap Group is delighted to announce it has advised accessible womenswear brand Ro&Zo on its first ever external funding round.  Pembroke,  the highly regarded consumer focused VCT, has invested £1.5 million in the business.

Ro&Zo, which was founded by Rachel Heather, Rosie Bowden and Zoe de Abreu in February 2021, has achieved outstanding growth despite the obvious economic headwinds.  The brand, which is led by CEO Rachel Heather, is sold in 15 John Lewis stores, johnlewis.com and Next online and is stocked on Zalando in Europe.

This round of investment will help Ro&Zo drive its direct to consumer business by raising awareness of its brand, develop its operations capability and scale the business in the UK. As part of this Ro&Zo is looking to launch its first high street store to provide an experience-driven, high quality omnichannel experience and is using data to find the best location suited to its customer profile.

Rachel Heather, CEO and co-founder of Ro&Zo, said:

“We are immensely grateful for the hard work and expertise we received from finnCap in securing this fundraise. Zuleika’s knowledge and communication skills were outstanding. It is the first time we have raised external funds so we were heavily reliant on their introductions, all of which were a good fit for Ro&Zo. Zuleika’s guidance through the process was exemplary. We are delighted to have chosen Pembroke as our new shareholders and look forward to a long relationship with them as we continue our growth strategy.”

Zuleika Salter, Head of Private Growth Capital of finnCap, commented:

“It’s an incredibly tough market for consumer brands at the moment so to have secured this funding for the team is testament to the strength of the business and a vote of confidence in the founders. It has been a real privilege to work with the phenomenally talented team at Ro&Zo. I look forward to following their success.”

finnCap Cavendish, part of finnCap Group plc, is delighted to announce it has advised the shareholders of William Morris London, the iconic British eyewear brand, on a sale of shares to Design Eyewear Group. The price and other terms have not been disclosed.

Following the transaction, Robert Morris, who founded William Morris London in 1996, will continue as Founder and Senior Brand Ambassador. As well as Robert’s ongoing creative input to product design and brand at William Morris London, he will help the customers and employees of the Design Eyewear Group gain an insight into William Morris London’s DNA and British design philosophy.

The deal was led by Jonathan Buxton, Partner and Mike Dinsdale, Director, supported by Leo Holdsworth, Senior Analyst.

Robert Morris, Founder and Creator of William Morris, commented:

“I’m excited that William Morris London is now joining a very professional and global company like Design Eyewear Group.

I’m very proud of the development William Morris London has undergone since it all began more than 25 years ago. I’m also convinced that Design Eyewear Group is the right partner to grow the company further through their established global sales network.”

Lars Flyvholm, CEO of Design Eyewear Group, commented:

“I’m proud that Design Eyewear Group has announced the takeover of such a reputable company with strong and exciting brands. With the acquisition of William Morris London, we’ve strengthened our position as a design brand house, and we’re pursuing our ambition to become one of the world’s leading multi-brand providers of design eyewear to independent opticians.

William Morris London’s brands each have a unique story based on the British design philosophy. The brands’ DNA and position in the market fit perfectly with Design Eyewear Group’s growth strategy and product range, and we look forward to joining forces to offer our customers an expanded, enhanced brand portfolio that caters for many different target groups and price classes.”

Jonathan Buxton, Partner at finnCap Cavendish, commented:

“I am delighted to have found such a fantastic home for William Morris London. We had the privilege of working with Robert Morris for several years ahead of the transaction and our in-depth knowledge of the business was incredibly useful when putting the deal together. Many congratulations to Robert and the team at William Morris!

The sale to Design Eyewear Group highlights our ability to access international purchasers and is our 10th transaction in the eyewear sector.”