James Strickland and Raymond Pugh purchase Cheltenham-based Neptune Rum

Food & Drink | Funding | Mergers & Acquisitions | South West

Corporate finance advisory firm Shaw & Co has announced that Neptune Rum has been bought by James Strickland and Raymond Pugh.

Neptune Rum was a multiple award winner and the company had ambitious growth plans for the future, with the aim of securing world-wide travel retail distribution.

But the previous owners said that the COVID-19 crisis jeopardized these projects and Neptune Rum went into administration.

However on June 18, James Strickland and his business partner Raymond Pugh purchased the business and its assets from the administrator, KRE Corporate Recovery.

Shaw & Co managed the deal, with MD Jim Shaw serving as the lead negotiator. James and Raymond are former clients of the firm, who helped them sell their recruitment business (Passionate About People) in September 2018.

Jim Shaw, founder and CEO of Shaw & Co, comments: “We have had an excellent business relationship with James and Raymond having assisted them in the sale of their previous business. When they approached us with the opportunity to purchase Neptune Rum, we were very pleased to help James and Raymond grasp this next challenge.

“We are very happy with the outcome. For James and Raymond this represents the start of a new chapter and for Neptune Rum it gives a platform the future, which was otherwise looking in doubt. The brand is international, but with headquarters in Cheltenham the deal maintains vibrancy in the local economy.”

James Strickland added: “Neptune Rum is an iconic British brand, having won over 65 global awards since 2018, and has had great successes in the recent years, most particularly in 2018/19. It was an excellent business opportunity for both Raymond and I. Of course, this is only the first step; much work is still required to secure the long-term future of the company.

“We would like to thank Jim and all his team at Shaw & Co for all their help, how they worked alongside John Workman at BPE Solicitors, their positivity, and their great level of professionalism shown throughout the whole process.”

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