4 December 2019
Taylor Wessing has played a pivotal role in the recent sale of the Savsé smoothie drinks business, acting for joint administrators Colin Hardman and Henry Shinners of Smith & Williamson.
The joint administrators of Veg & City Drinks Limited, which produces naturally healthy smoothies under the brand name Savsé, have sold the business to Life Health Foods UK Limited.
The sale of the business was completed on 8 November 2019.
The Taylor Wessing team was led by senior associate Stephen O'Grady (Restructuring and Insolvency).
Commenting on the outcome,
Restructuring & Insolvency senior associate Stephen O’Grady
said: "We were very pleased to advise Smith & Williamson on this positive outcome. Difficult trading conditions and a competitive market, exacerbated by Brexit, resulted in Veg & City Drinks Limited being placed into administration. However, substantial interest from companies operating in the drinks and health foods markets was received and this innovative and well regarded drinks brand has been preserved under new ownership."