UK: Nichols eyes UK M&A opportunities
The group finance director of Nichols has told just-drinks that acquisitions remain on the company's agenda.
Speaking exclusively to just-drinks last week, Tim Croston said that any acquisitions the company makes going forward will be UK-based and in its soft drinks division. Croston added that Nichols has "great plans" to keep growing the business.
"Our turnover last year was GBP84m (US$135.5m), and this year it was pushing mid-GBP90m," Croston said. "But given the size of the business ... to start an overseas presence is a big logistical issue in terms of the resources that it requires.
"If there was an acquisition on the agenda - there are a few that we are looking at - it is more likely to be a UK business to add to our UK soft drinks division,"Croston added.
In March, Nichols acquired the 50% of Dayla Liquid Packing that it did not already own, for GBP2.3m. It also purchased Ben Shaws 'soft drinks on draught' business in the UK last year.
Croston however, said the company has grown its dispense business and that any purchases going forward will be made in the soft drinks arena.
"We do look at lots and we are quite choosy as to what we are after, but we are looking more at something more premium, something that we can add value to," he added.
To read just-drinks' exclusive interview with Croston, click here.
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