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07 June 2017

Charles Russell Speechlys advises Pelican Procurement Services Limited on the sale of the company

Charles Russell Speechlys has advised the principal shareholders of Pelican Procurement Services Limited (Pelican) on the sale of the company to Aramark Investments Limited, a member of the Aramark group of companies (Aramark).

Pelican was founded by March Hancock in 1989, and since then has grown to become one of the leading food procurement businesses in the UK, with a particularly strong presence in the education and public sectors.

Aramark is a NYSE listed business and a global leader in the customer service industry across food, facilities and uniforms with a presence in 19 countries. This deal will allow Pelican to utilise the Aramark group's industry knowledge and relationships and to continue to grow with their backing.

This transaction provides another exciting example of Charles Russell Speechlys acting for entrepreneurial and private wealth clients in the Food & Drink sector.

March Hancock, Pelican founder said:

"Not having sold a business before, I was naturally somewhat apprehensive about the whole process, the cost and the time that it might take. David Coates and his team were very professional in their approach and kept me updated with the process and costs, whilst working to a tight timeline. Most importantly, the principal shareholders of Pelican found them nice people to work with."

David Coates, Corporate Partner, Charles Russell Speechlys commented:

"It was a pleasure working with March and the principal shareholders of Pelican on this sale which represents an exciting and important milestone in the Pelican story. We expect the Pelican business to grow from strength to strength under Aramark's ownership."

The Charles Russell Speechlys team was led by Corporate Partner David Coates and Corporate Associate Olivia Mackie with support from the members of the Tax, Commercial and Employment teams.

Aramark were advised by Shoosmiths, led by Corporate Partner Alastair Peet.

Ashcombe Advisers provided corporate finance advice to the principal shareholders of Pelican.