Mark Toney & Co Limited has been sold as a going concern to new owners in a deal overseen by specialist business property adviser Christie & Co.
The popular ice cream maker, which operates a wholesale business, factory and two ice cream parlours, was put up for sale nine months ago when owner Antony Marcantonio – the great grandson of the gelateria’s founder – announced plans to retire.
Mark Toney’s has served generations of families across Newcastle since the first shop opened its doors inside the Grainger Market in 1892, when Antonio Marcantonio brought a taste of Italian ice cream to the historic market from a tiny mountain village near Rome.
New co-owner and managing director, Chris Raynes, is also a direct descendant and great great-grandson of Giovanni Marcantonio.
Wealth manager Brewin Dolphin is set to be acquired by the Royal Bank of Canada in a deal valuing the business at £1.6bn.
The investment specialist, which has a network of offices around the UK and Ireland including a strong presence in Newcastle, has recommended an offer to shareholders by RBC Wealth Management (Jersey) Holdings Limited, a subsidiary of Royal Bank of Canada.
The two firms announced they have reached agreement on the terms of a recommended all cash offer, through which shareholders will be entitled to 515p per Brewin Dolphin share. The deal values Brewin Dolphin at 2.8% of its £55bn assets under management as of February 28 2022.
Brewin Dolphin’s largest office outside of London is in Newcastle, where it has around 350 employees.
South Tyneside fashion start-up Pretty Mama struck a deal with four TV dragons after braving the Dragons’ Den.
Jenny and Alex McFadden appeared on last Thursday's episode of the BBC One show, where viewers saw them pitch their maternity clothing brand Pretty Mama to the panel.
The siblings explained how they are juggling full-time jobs with the clothing company, which was launched four years ago after they spotted a gap in the market for feminine and comfortable maternity wear.
They asked for investment of £30,000 in exchange for a 20% stake in the business - but stressed that what they wanted more than anything was advice on how to grow the business.
In exchange for 6% equity per dragon, the sisters will now work with North East entrepreneur Sara Davies, as team leader, Steven Bartlett, Peter Jones and Touker Souleyman. The deal is currently going through the due diligence process.
Battery pioneer Britishvolt has signed an agreement with an Indonesian corporation to secure supplies of a vital compound at its Northumberland gigaplant.
Britishvolt has signed a Memorandum of Understanding with VKTR, a new division of Bakrie Autoparts which forms part of the wealthy Bakrie & Brothers family business, to partner on the development of a “transparent and lower carbon” supply of nickel sulphate from Indonesia, as well as a battery technology research and development roadmap.
The first phase of the agreement will see the firms work together on developing a nickel facility in Indonesia that can supply battery manufacturers, including Britishvolt’s first full-scale gigaplant at Blyth, Northumberland.
The parties intend to develop a joint venture under the corporate name of Indovolt BV VKTR, initially focussing on supplying the nickel before looking at the potential to develop a gigafactory in Indonesia, which is the world’s largest nickel producing country, as well as other locations.
The iamproperty Group has acquired Oxfordshire-based property software business VTUK for an undisclosed sum in a deal which it says continues its mission to modernise the property sector.
VTUK offers a cloud-based property CRM software platform which aims to create a seamless experience for estate agents to fully automate their day-to-day operations.
Established in 1989 by founder Peter Grant, it works with more than 300 estate agencies across the UK and already shares a number of mutual customers with iamproperty.
Ben Ridgway, managing director at iamproperty Group, said: “We are delighted to be bringing VTUK into the iamproperty Group.
“Peter has built a business that is well respected in the industry with the support of an established team and we’re really looking forward to working alongside them. This is a great opportunity for our staff and customers, creating synergies that will benefit our mutual partner agent network.”
Four more companies have been given backing from a fund which aims to support the renewable energy sector in the North East.
The North of Tyne Combined Authority’s Technology, Innovation and Green Growth for Offshore Renewables (TIGGOR) programme has given grants totaling £800,000 to TechnipFMC, FES International, Kinewell Energy, and Enshore Subsea. The grants take money awarded from the fund above £2m.
The programme is part of the North of Tyne’s wider strategy for energy, green growth and climate change, with the grants coming a week after a taskforce was launched which aims to make the Tyne a world leader in the renewables and offshore sector.
Stockton's px Group has acquired Fairport Engineering in an undisclosed deal that includes Sunderland-based Fairport Tunnelling Technologies.
The deal will bring North West-based Fairport's materials handling expertise to the group and is the first since px Group was acquired itself by Ara Partners last year.
Fairport's 70-strong team will now join px Group, which says the move is in line with its international and domestic growth strategy.
