Price Bailey is delighted to announce that the Strategic Corporate Finance (“SCF”) team has provided sell side advisory assistance to Jack in the Box Nursery (Norfolk) Limited in their sale to Bright Stars Nursery Group Limited (“Bright Stars”).
The business was first introduced to our Strategic Corporate Finance (SCF) team by our Business Compliance team who have provided accounting services to Jack in the Box for a number of years. The SCF team, led by Stephen Reed, were subsequently engaged to support Annabelle to realise the value of her hard work in growing the business over a number of years. The team project managed the process, through marketing, negotiation, due diligence and through to completion. Our Business Team provided information support to the SCF team throughout the planning and due diligence process. Ashton’s Legal, led by David Sloman, were the legal advisors to the vendors.
The Company was acquired by Bright Stars Nursery Group in November 2022. It was important to the sellers that the brand they had grown continued with minimal disruption to the nursery and parents, and Bright Stars’ desire to keep the day-to-day running of the nursery as it always has been, was a key factor in the Sellers’ decision.
On completion of the transaction, Price Bailey Strategic Corporate Finance partner, Stephen Reed said :
Jack in the Box Nursery’s great success to date presented a very attractive proposition to a number of potential buyers, and we are delighted to have achieved an outcome for Annabelle that realizes her considerable hard work. Bright Stars provides a great cultural fit for the nursery, and we wish them all the best for the future of the nursery
Annabelle Conway, founder of Jack in the Box Nursery, said:
I have complete peace of mind that the sale of the business to a fantastic group such as Bright Stars has secured the continued success of our nurseries. I would like to thank Stephen and the team at Price Bailey for their support throughout this transaction, their care and attention in understanding our needs helped in ensuring the transaction was a success
Stephen Booty, Bright Stars Nursery Group Chairman, commented:
The Jack in the Box Nurseries are a wonderful addition to our Group and provide us with a fantastic opportunity to expand our presence into Norfolk for the first time. Annabelle has developed a lovely children’s nursery setting which is evident in all aspects of both the nurseries we’ve just acquired
Kirsty Ibbott, Bright Stars Nursery Group M&A Director, added:
We are very excited about Jack in the Box’s addition to the Group. We are grateful to Price Bailey for bringing the opportunity to our attention and their involvement in the transaction was refreshing, as their understanding of their client’s business and sector, and all-round approach to managing the deal helped smooth the process and ensure a mutually beneficial result. The transparency and quality of information that this approach afforded us as acquirers, particularly reflected in the Information Memorandum quality presented to us, made the process far more productive and efficient.