Overview

Since inception, Cornucopia Capital has assisted on / raised over $2 billion of financing and investment in respect of a variety of transactions. Set out below are some of the key transactions that we have worked on in our history

Cornucopia Capital are currently working on the financing and structuring of a number of transactions in the real estate, leisure and technology sectors

M&A Transactions

  • In 1999, originated and advised on the sale of Tetley Tea (a private equity backed company owned by Permira) to Tata Tea for £271 million, which closed in 2000
    • In 2004, Cornucopia Capital originated the Permira backed takeover of De Vere Group plc for approximately £920 million which was outbid by The Alternative Investment Group plc with a £1.1 billion offer
    • In 2006, Cornucopia Capital and associates originated the Permira-backed management buyout of Principal Hotels and the subsequent acquisition of Hawkstone Park Golf and Country Club for a total financing of approximately £500 million
    • In 2008, Cornucopia Capital assisted and advised Franchise Brands, which was founded by a consortium of high net worth investors, on the acquisition of the businesses of MyHome International plc, a multi-product, multi-branded franchise operator, from the receiver. The Choudhury family made an equity investment in Franchise Brands at incorporation and Julia Choudhury has been a Director since. Franchise Brands debuted on AIM in August 2016 following a successful and oversubscribed fundraising which included high quality institutional investors
    • In 2009, Cornucopia Capital working with GI Partners, a mid-market private equity firm then with approximately $6 billion of capital under management, made an offer for a Data Centre of approximately 700,000 sq ft based in Cambridge, England. Also, in 2009, Cornucopia Capital advised on the GI Partners-backed acquisition of a 1,100-acre former Second World War American airbase at Alconbury, West of Cambridge for £27.5 million
    • Prior to the acquisition, Cornucopia Capital also played a key role in the establishment of GI Partner’s real estate operating company, Urban & Civic, which targets strategic UK land estate acquisitions of metropolitan or regional scale capable of sustained development. In 2014, Urban & Civic completed a successful reverse takeover of Terrace Hill on the London Stock Exchange and GI Partners fully exited in 2018, generating a 2.5x cash-on-cash multiple and a 13 per cent IRR
    • During 2015, Cornucopia Capital was involved in both an origination and advisory capacity on the buyout of a €750 million German real estate portfolio
    • Between late 2016 and early 2019, Cornucopia Capital advised a prominent UK travel entrepreneur on the execution and financing of a buy and build strategy in the UK travel sector
    • In late 2017 / early 2018, Cornucopia Capital advised the management team of a leading business services company on evaluating strategic options for growth including a focused roll-up strategy and the necessary acquisition financing
    • For most of 2020, Cornucopia Capital provided M&A origination, advisory and transaction execution services to an international subsidiary of an FCA-regulated investment manager. This subsidiary company led an investment consortium comprising blue-chip companies, ultra-high-net-worth individuals and investment vehicles targeting the acquisition of quality assets at attractive prices globally in a wide range of sectors globally, including healthcare, automotive, infrastructure, retail, technology, and financial services
    • In 2020, Cornucopia Capital worked with a well-known former executive in the retail sector to buy a major high street retailer. The proposed transaction value was in excess of £100 million

Financing 

  • Over the past ten years, Cornucopia Capital has assisted and worked on a number of David Lloyd Resorts and additional David Lloyd Group projects worldwide in the leisure real estate sector with a particular focus on financing and structuring such transactions. This work has included significant work on the origination, financing and structuring offers for such well-known leisure assets as Turnberry, Vale do Lobo, Oceanico and Loch Lomond. More recently, Cornucopia Capital have worked with and are advising David Lloyd on the formation of his new ventures, David Lloyd’s Adventure Parks, in the UK and in the US, Adrenalin World and EAT, PLAY ‘N FUN
    • During 2009 and 2010, Cornucopia Capital worked with the Country Format management team in raising the total financing of $311 million for the DancingGreen Project, a major Holiday Village Project in Russia located close to Moscow
    • During 2012, Cornucopia Capital played the leading role in the sourcing, structuring and negotiation of a significant investment by Metric Capital Partners LLP and Hutton Collins Partners LLP on behalf of TVHG Budget Group Netherlands (“TVHG”), one of the leading hotel developers and operators in the Netherlands. Cornucopia Capital successfully partnered with Colliers International in securing this investment which allowed TVHG to develop additional hotels in the Netherlands with a development value in excess of €120 million. The transaction closed in August 2012 and the company was subsequently sold by Colliers International in 2015 at a premium, generating superior returns for investors and management
    • During 2014, Cornucopia Capital in partnership with Colliers International worked on a £100 million equity/mezzanine financing for a top London serviced apartment operator. This capital raising was to enable the operator to better control the property pipeline, expand its property portfolio and strengthen its ties with the property investment community
    • In late 2016/early 2017, Cornucopia Capital assisted African Alpha Investment Partners, an Africa focused investment and advisory firm, with the formation of a consortium of investors in respect of a significant investment in the master franchise of Krispy Kreme in Nigeria
    • During 2017 / early 2018, Cornucopia Capital worked in partnership with Colliers on the $87 million financing of a proposed development comprising a 202-room 5-star hotel and 29 serviced apartments to be operated under Marriott’s Sheraton brand in the diplomatic and commercial heart of Freetown, the capital of Sierra Leone. This development aimed to create the highest quality hospitality offering in a market with a marked supply shortage
    • Since early 2019, Cornucopia Capital have been shareholders in and advisers to the management teams of Veloce Esports, a leading esports team, and Veloce Racing, a motor racing team. Cornucopia Capital advised Veloce Racing on their successful seed fundraising in 2019 and have since advised on the combination of the two businesses. In September 2019, Veloce Racing announced their intention to compete in Extreme E, an off-road electric SUV racing series with racing locations chosen to raise awareness of climate change. The inaugural season started with the Saudi Arabia Desert X-Prix in April 2021
    • During 2019 / early 2020, Cornucopia Capital advised the management team of a leading specialist flexible office operator on their corporate development strategy and securing bridge financing from their existing investors. Cornucopia Capital continue to advise on the company’s growth strategy with a view to leading and investing in the next round of financing
    • Cornucopia Capital are currently working with a number of companies founded by retail and technology entrepreneur Andrew Xeni and backed by New Look founder Tom Singh, assisting them to achieve their strategic and financing objectives. This includes Fabacus, a SAAS retail licensing technology provider and the official product authentication technology platform partner of IMG Licensing, and Soreto, a performance marketing company
    • As part of the above, in late 2020 / early 2021, Cornucopia Capital led a bridge financing round for Fabacus, investing alongside a number of long-time high net worth co-investors. In early 2021 sourced bridge financing for Soreto also from high net worth investors with a view to investing in the company

Corporate Finance Advisory 

  • During 2013/2014 Cornucopia Capital in partnership with Colliers International worked with Pontos Group, one of Finland’s most respected family owned private equity and real estate investment companies. Pontos developed the Ombria Resort, a proposed five-star luxury hotel, spa and golf resort in the Algarve, Portugal. The masterplan includes 386 apartments and villas, including 65 branded residences managed under the Viceroy brand
    • During 2016/2017, Cornucopia Capital in partnership with Colliers advised a European conglomerate on their strategic and corporate finance objectives in respect of their significant real estate holdings in Istanbul, Turkey
    • Also, during 2016/2017, Cornucopia Capital advised a prominent UK leisure entrepreneur on maximising the value of a golf and country house resort in South West England with planning permission for significant additional holiday real estate. This entailed advising on the selection of and contract negotiation for a new management operator as well as a potential disposal option / creation of a joint venture to develop the asset
    • During 2018, Cornucopia Capital advised the CEO of a listed retailer to evaluate strategic options including a management buyout and restructuring of the business. The eventual restructuring included a refinancing of over £100 million and the closure of 50 stores
    • Since early 2017 to date, Cornucopia Capital have been shareholders in and advisers to Soo Yoga, a branded integrated healthy lifestyle and wellness centre focused on yoga in Northampton founded by Ben Cohen and Kristina Rihanoff

A Consortium of Investors 

In late 2020, Cornucopia Capital assembled a consortium of investors to co-invest in Fabacus – a SAAS company providing the retail licensing industry’s first end-to-end platform allowing products and services to be tracked from concept to marketplace, allowing brand owners (licensors) to communicate and engage more effectively with all stakeholders in their value chains. The company was founded by retail and technology entrepreneur Andrew Xeni and is also backed by Tom Singh (founder of New Look). 

Franchise Brands

During 2008, Cornucopia Capital assisted and advised Franchise Brands on the acquisition of the businesses of MyHome International PLC, a multi-product, multi-branded franchise operator, from the receiver. Franchise Brands are now a leading group of international multi-brand franchisors with a collective trading history of over 135 years and a combined network of more than 400 franchisees and were admitted to AIM following a significantly oversubscribed fundraising in August 2016. 

The Choudhury family were founding shareholders of the company alongside a consortium of prominent high net worth investors.