Retail - corporate and commercial

For those retailers surviving the current market conditions, now is an appropriate time to consider the shape of their businesses and the opportunities available to them.

Businesses in relatively good shape may be considering the prospect of increasing market share either through acquisition of other businesses or combining buying power with other organisations.

Others may be looking at the financial options open to them. While bank debt may be an expensive option or difficult to come by, public market fundraisings in the wake of recovering global stock prices and investment from private equity investors may increasingly be attractive alternatives.

Our service

For those businesses looking to increase market share, a relatively neat, quick and potentially high profile way of doing so is to acquire other businesses, or parts of them. Our mergers & acquisitions lawyers have a wide range of experience of the issues involved in auction sales (whether or not conducted by insolvency practitioners), trade sales or sales to private equity firms and can advise on the work required to make the most of the opportunities open to you.

Some retailers have looked to use joint ventures/partnerships to drive their expansion plans. These arrangements need careful planning both in respect of roles and responsibilities and the ownership/handling of IP and branding rights. Our lawyers are used to dealing with these issues and creating joint venture structures in which business can flourish and grow.

Retailers looking to raise funds through private equity need to plan their approach to investors carefully. Our specialist venture capital lawyers have successfully advised many businesses through this process and can provide guidance on achieving the best outcome.

Our equity capital markets team can assist retailers looking at raising funds through public market fundraisings. Our team has advised a strong client base of full AIM and PLUS listed companies on public offerings, restructurings and related matters.

When growing a business it is important not to forget internal corporate matters. Corporate governance and equity incentive arrangements are constantly developing. We advise our clients on these developments and on how to offer their employees equity incentives as part of a package of benefits. Whatever your business objective, you can be sure that our corporate team has the expertise and experience to help you achieve it.

Our experience

Our domestic and international retail sector experience includes:

• Advising on the £70m sale of a high street convenience store network with over 2000 outlets
• Advising an international client on the £60m purchase of a major high street off license chain
• Advising a major international retail entertainment group on the proposed sale of its European business comprising over 800 high street stores across the UK
• Advising a consortium of Dutch fresh produce growers on their joint venture with a fresh produce packer and supplier to the major supermarkets in the UK
• Advising a leading department store on changes to its corporate constitution and equity incentive arrangements
• Acting for the shareholders of a fine wine merchant on their partnership with a Netherlands-based wine trade house under which existing management received a 25% stake in the parent of the acquiring entity
• Advising a private equity fund on the sale to another private equity fund of an electrical retail business.