Disposal of Donatanonio Limited
Led by partner Andrew Thomson, HMT advised the Shareholders of Donatantonio Limited (“Donatantonio”), an ongoing client of HMT, on its disposal to a BIMBO team led by Steve Asplen. The transaction was funded by Beringea who also introduced Steve to the management team.
Donatantonio was established in 1902 by Luigi Donatantonio as a Mediterranean retail outlet in central London, servicing Britain’s growing Italian population. During the 1950’s and 1960’s, Donatantonio moved from retail to distribution and started to supply food manufacturers with Mediterranean ingredients. In 1997, it was listed on the London Stock Exchange.
The business principally supplied the food manufacturing sector with products including pasta, tomatoes and olive oil in addition to the major retail outlets with branded products including Pagani and Balzano.
In 2004 Andrew Thomson of HMT advised a management team led by Sheila Donatantonio on the public to private management buyout of the company and has now advised the same team on its successful disposal.
Sheila Donatantonio commented:
“The relationship we have had with HMT over the last 10 years has culminated in an excellent deal both for the future of Donatantonio Limited and for the shareholders.”
Andrew Thomson commented:
“We were delighted to advise Sheila Donatantonio once again, and this time on her disposal of the business. Donatantonio is a well established company with a great brand and is well placed in the growing food market. This transaction presented the company’s shareholders with the chance to realise significant value in the business and for Steve Asplen together with fourth generation members of the Donatantonio family, to grow Donatantonio further and continue its success.”