Belfast-headquartered SHS Group has invested significantly to position itself for further growth through two major acquisitions.Danske Bank provided the funding for both acquisitions.
SHS Group worked closely with Danske to complete the acquisition of Standard Brands UK Limited, owner of market leading firelighter brands such as Zip and Sunny Jim. Closely followed by the acquisition of 3V Group, the owner of nut butter brand Meridian and soft drink producer Rocks.
SHS Group already owns a range of premium brands including WKD, Shloer, Bottlegreen and Merrydown Cider, and are market leaders in the supply of own label herbs and spices in the UK and distribute over 100 blue chip FMCG brands in the UK and Republic of Ireland.
Arthur Richmond, Group Finance Director of SHS Group, said: “In the past seven months we have acquired two major UK brands, strengthening our brand portfolio and manufacturing capability. We continue to invest in bringing high-quality brands to consumers over a range of channels and geographies.
“Our strong relationship with Danske Bank is absolutely pivotal to the continued growth of the business and extends beyond financial support. We’ve been working with the bank to harness the opportunities for efficiencies from their IT platforms as well as continuing to invest in our own systems. We have integrated their innovative IT platforms with our own software. This is helping us deliver our strategic goals and day to day service for our Customers and other Stakeholders.”
Lewis McCallan, Head of Relationship Management at Danske Bank, commented: “SHS Group’s expertise in the FMCG market, innovative approach and determination to excel, coupled with our commitment to seamlessly integrate our technology platforms, has allowed the business to maximise productivity and improve working capital management.
Geoff Sharpe, Head of Corporate at Danske added: ‘We are delighted to support the growth of SHS Group, which further demonstrates Danske Bank’s appetite to support large corporate transactions, and provide value adding products and services through our bespoke IT integration solutions. We look forward to supporting the management team in the years ahead.”
Established in 1975, SHS Group has a turnover of over £460 million and employs over 900 people across the UK and Ireland.