Horlicks owner re-acquired by the Unsworth Family

The deal was agreed to for an undisclosed fee, with Rob Unsworth now set to re-join the company as chair.

However, all of the current senior management team will remain in post at the firm’s Merseyside site.

With a turnover of £120m, Aimia owns drinks brands including Horlicks and Drink Me Chai, while it also manufactures products for Mars.

Having invested in recent years to boost its in-house capabilities, it supplies a variety of channels including retail, vending, foodservice, cash and carry and online.

Established in 1981, Aimia was run by Unsworth Family until 2014 when it was sold to the Cott Corporation.

Since then the family has remained active in the food and drink industry, taking a majority stake in Geary’s Bakery in November 2019.

Aimia is a ‘special business’

Commenting on the decision to bring Aimia back under family ownership, Rob Unsworth said he was delighted to get the deal over the line.

“This is a special business we know very well which stands out in many ways from the competition,”​ Unsworth continued.

“The business will remain headed by Paul Whitlow as MD and the leadership team will be unchanged. We will also continue to support the strategic direction of the business, which is driving growth through the manufacturing and sale of branded goods within the beverage category both in the UK and overseas.”​

Clairfield acted as lead financial advisors during the process, led by partner Gary Ecob, director Toby Arrowsmith and manager Liam Hadfield.

“The Unsworths have an excellent reputation in the food and drink industry and with Rob’s extensive knowledge of the food and drink manufacturing sector, the business is well positioned to realise further growth in the future,” Ecob commented.

Meanwhile, finance was arranged through Andy Oates at HSBC and Paul Whitehouse at Beechbrook Capital.

“From the outset we recognised that Aimia is a high-quality UK manufacturing business and a market leader in its key categories,”​ said Whitehouse.

“The family and the management team have an impressive track record in building strong customer relationships and brands, and we look forward to seeing them develop the group further as a result of our investment.”​

In other news, more than 700 workers at a Bakkavor facility in Spalding are set to take part in continuous strike action from 27 September​​​, Unite the Union has announced.