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Acquisition Opportunity

Hilco Streambank is seeking offers to acquire the business and assets of Glacies Limited (in Administration) t/a POPS (“POPS” or the “Company”) on behalf of Damian Webb and Gareth Harris of RSM Restructuring Advisory LLP, acting as the Joint Administrators of the Company. 

BID DEADLINE

Wednesday, November 6 2019 @ 4pm GMT

Background

Founded in 2013, POPS offered quirky frozen popsicles, sorbets and ice creams taking flavours and inspiration from popular alcoholic beverages. The Company’s products were targeted towards the 18+ market and since trading began in early 2014, POPS has sold circa 3m products in the UK. The Company’s products have historically been favoured by women within the 21-35 age bracket, but the Company’s management planned to broaden this market in the future, particularly with regards to male consumers. The Company’s management viewed POPS as sitting within the UK Adult Refreshment industry, which management estimated to be worth a total of £50m annually, growing at 38.1% per annum.

The Company’s products were stocked in circa 2,000 outlets in the UK, including major retailers such as Tesco, Waitrose and Lidl, in addition to disruptive online retailers such as Amazon and Deliveroo. POPS has also been involved in several collaborations with major drinks brands, including Pimm’s, Gordon’s gin and most recently Guinness, to bring the household names to the freezer aisle through co-branded popsicles.

Brands

The Company generated revenue of circa £609k for 2019, 20% growth on the previous year, and was forecasting accelerated growth over the coming years, with £6m in forecast sales by the year 2023. This sale presents an opportunity for a buyer to acquire a unique brand with strong traction in the market and use it to commercialise the Company’s existing stock, maintaining the brand’s presence in the market.

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Available Assets

Intellectual Property

The Company holds certain rights to a number of intellectual property assets, including:

  • Goodwill in the POPS Brand – the Company sells its bespoke products under the POPS corporate brand, supported by branded packaging, marketing collateral and corporate social media accounts.
  • Trade Marks – the Company’s corporate brand is protected by three registered trade marks, comprising two figurative ‘POPS’ trade marks in the UK and Australia (registration numbers UK00003104286 & 1342478) and a word mark for the word ‘Poparazzi’ (registration number UK00003104283).
  • Diageo Licensed Products – the Company’s existing contracts with Pimm’s and Gordon’s may have their rights transferred, subject to a suitable partner and Diageo’s discretion. The contract with Guinness is ongoing with agreed heads of terms so may also fall with the above.
  • Production knowledge – the Company will provide production know-how, recipes and development learnings to transfer knowledge on the creation of their unique and first to market products.
  • Domain Name(s) – the Company has registered the wearepops.com domain name.
  • Copyright in Website Content – the Company operates a corporate website, hosted at wearepops.com
  • Social Media Assets – the Company maintained social media accounts on Instagram, Facebook and Twitter with 30k+ cumulative followers. This sits alongside a dedicated newsletter database of 10k+ active subscribers.

Stock

  • The Company is in possession of over 10,000 cases of stock, spread across a plethora of product categories. A stocklist is available on request.

Fixed Assets

  • The Company is in possession of certain fixed assets, including numerous consumer facing freezer units, ice cream bikes, walk-in freezer unit, laptops, office furniture, and kitchen equipment that may be of interest to a buyer. A fixed asset register is available on request.

Management Support

  • The Directors of the Company are willing to support the business' new owners in the short-term, providing management with knowledge and relationships following an acquisition

 

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Press Coverage

The Company has received copious press coverage since it began trading, with major newspapers, websites, and publishing companies featuring articles on the Company’s adult treats. Further to the press coverage, POPS has also been promoted by celebrities who have been photographed enjoying the Company’s products, including celebrity chef Gordon Ramsay, tennis player Andy Murray, and popstar Miley Cyrus.

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Sale Process

Offers are due November 6, 2019 at 4pm GMT.

All expressions of interest and offers should be directed to Hilco Streambank in writing. Please contact Hilco Streambank to obtain an NDA and for more information regarding the sale process. A Bid Submission Form for submitting offers is available on request.

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Key Terms & Conditions

The bidder acknowledges that Hilco acts as an agent for the Joint Administrators of the Company who offer for sale only what right, title and interest the Company possesses in the assets. The information provided has not been verified by Hilco and bidders are deemed to have carried out their own due diligence.

VAT at 20% will be added to the price if applicable. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank's full Terms and Conditions apply. 

Contact Us

For further information about the sales process please contact the following Hilco Streambank representatives:

Interested Parties

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