Manfield acquired WaverleyTBS, the national drinks supplier, in June 2010. The business was a non-core, loss-making subsidiary of Heineken with revenues of £500m but volumes and revenues were declining in a difficult macro-economic and market environment.
The acquisition process was complex given the lack of clean data on the company and the numerous separation issues. Manfield delivered a clear and clean transaction for Heineken recognising sensitivities within their business allowing them to exit with minimum disruption to its ongoing operations.
After Manfield acquired the business we established all key finance functions, IT systems and support to allow it to operate as an independent entity and resolved many of the historic liabilities around vacant properties and onerous contracts.
Manfield exited WaverleyTBS in 2012