Nottingham-based firm Hyperama plc has sold its Lenton cash and carry division to London-based Dhamecha Group. Hyperama’s Nottingham and West Bromwich branches have both been sold to the London-based group and will take its number of cash and carry branches to 12.
Hyperama PLC was ranked as Nottingham's 25th largest company in the 2022 list of Top 200 Nottinghamshire companies. Its headquarters is based at the Lenton Industrial Estate, which also houses the cash and carry.
“I am delighted to announce the sale of these two depots to Dhamecha Group,” said Marcus Singh, Managing Director of Hyperama. “I could not have wished for a better business to acquire the sites and take the business forward. Dhamecha is a fantastic operator and has successfully expanded already into the Midlands and I know I am leaving my employees, customers and suppliers in good hands.”
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This sale comes after Hyperama plc’s divestment of its Peterborough cash and carry to Holland Bazaar Ltd. The company was advised by corporate finance team of PKF Smith Cooper, which said it required a carve out and ‘hive down’ of Hyperama’s remaining cash and carry divisions into a special purpose vehicle containing the trade, assets and business operations to be acquired by Dhamecha Group. This raised a number of unique commercial and transactional challenges that were navigated with specialist assistance from the PKF SC corporate finance team. For example, Hyperama’s Nottingham cash and carry operates from the company headquarters, which also houses sister company JK Foods and the buildings needed to be segregated.
Marcus added: “I am thrilled to have completed the divestment of the cash and carry divisions within Hyperama. I have built a strong relationship with the corporate finance team at PKF Smith Cooper, having utilised the team’s knowledge, commitment and drive to both acquire and divest a number of our family’s business interests."
Tom Joy, Senior Corporate Finance Manager at PKF Smith Cooper, comments: “It has been a pleasure to support Hyperama in the sale of its cash and carry divisions to both Dhamecha and Holland Bazaar. It is great to see the respective divisions find the right home, with both acquirers keen to continue to invest and develop their business in the Midlands.”
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