Two Cheshire brothers have acquired Calypso Soft Drinks, the
acclaimed soft drinks company that was founded as a dairy business
by their grandfather 120 years ago.
Peter and Richard Cooke, together with Finance Director John Halton
have been running the Wrexham-based soft drinks company, under the
chairmanship of John Posnett whose family had taken a majority
stake in the business in 1954.
Earlier this year Mr Posnett appointed the food and beverage team
at corporate finance boutique Livingstone to sell his
family’s 89% stake in the business.
Presentations made by Livingstone to potential purchasers generated
a significant amount of interest from trade buyers, however, just
as the Posnett family were about to sign the exclusivity agreement
with one of them, the management team made an offer for the
After careful consideration by the vendors of all the offers, the
decision was reached to accept the offer from the incumbent
management team. On 19 October 2005, the Cooke brothers and John
Halton acquired the business with funding from RBS, their incumbent
Nuala Higgins, the Livingstone deal leader who helped bring the
transaction to fruition, says: “Calypso has always been a
family-run business and the result is the completion of a very
Patrick Groarke, partner at Livingstone adds: “The decision
to go with the management team was not only financial – it
was the right thing for the business”.
Phillip Posnett added: “We are sad to be selling the company
but delighted that it shall remain a family business and wish the
Cooke family every success”.
Calypso was founded as a dairy business by farming brothers George
and John Cooke and was originally based in Tattenhall, Cheshire
next to a Spring Water borehole. Today, the company turns over
£24 million annually from its strong portfolio of recognised
and trusted branded drinks, which include Calypso Rapidz, Calypso
Clear cups, Calypso Splash, Calypso NMW cuplets and Jubbly Ice
Lollies among others.
Calypso has a large accredited source of Natural Mineral Water at
Wrexham which has contributed to its success in being the
UK’s first Children’s Natural Mineral Water drink
Patrick Groarke, partner
Tel: 020 7484 4707
Nuala Higgins, deal leader
Tel: 020 7484 4724