Criterion and Marine Ices sale to Northern Bloc
Ensors recently advised the shareholders of long-standing Suffolk brands Criterion Ices and Marine Ices on their sale to Northern Bloc. Wilbur Wang led the marketing campaign and identified the buyer.
Criterion Ices are ice cream manufacturers based in Bury St. Edmunds. Criterion produces high quality traditional dairy ice cream to restaurants, theatres and places of leisure. Marine Ices manufactures high quality gelatos and sorbets for cafes, ice cream parlours and the retail market. Both brands have been established for over 80 years.
Simon Martin and Wilbur Wang of the Ensors’ Corporate Finance team were initially engaged with the companies in May 2022 to advise the shareholders on the potential options available.
Wilbur Wang conducted an accelerated marketing campaign using the firm’s list of M&A contacts and other targeted companies. An offer from Northern Bloc was accepted and the deal subsequently completed in November 2022.
The deal has allowed Northern Bloc to further the legacy of the two brands, whilst being a great opportunity for the overall group to expand their offering.
Paul Myatt (MD of the companies) said “Thank you to Wilbur and Simon in helping us find a buyer and assisting throughout the process to completion. Our goal was to find a buyer to carry on the legacy and history of the two brands and we are pleased that the successful deal will enable this”