National law firm Shoosmiths has advised the Warrens Group - the UK market leader in baked goods logistics - on all real estate aspects relating to a joint venture with Culina Group.
Culina Group is actively expanding its ambient logistics business and the joint venture with Warrens Group, means Culina Group has strengthened its market position in the bread, cake and patisserie services marketplace across the UK. Culina Group will continue develop relationships with Tesco and Sainsbury's, long established major clients of Warrens Group.
Shoosmiths advised the Warrens Group on the structure of the commercial property aspects of the transaction which included formalising the occupation of four of Warrens Warehousing's distribution warehouses and advice on liability for wants of repair and dilapidations. The firm also advised on the commercial property aspects of the joint venture agreement.
Shoosmiths real estate partner Lisa Williams led the deal with support from solicitor Claire Raddan.
Michael Warren, Warrens Group CEO, said: "This is a fantastic opportunity for everyone involved in Warrens Group and Culina Group and is a synergistic joint venture which will enable both our businesses to combine our strength to grow even further.
"The advice provided by Shoosmiths on this deal was exemplary given the complexity of the real estate aspects of this agreement and the tight timescales."
Shoosmiths' Lisa Williams said: "It has been a pleasure working on this complex joint venture between Warrens Group and Culina Group. It is clear that there are huge benefits to be had in this sector through a joint venture agreement. We wish our client, Warrens Group, and Culina all the best for the future and look forward to continuing to support Warrens Warehousing on its real estate portfolio."
Warrens Group focuses on transportation and storage of non-refrigerated baked goods and expects to report overall sales of approximately £37m in the 2017 financial year.
With a turnover of over £540 million, a workforce of more than 7,000 staff and a fleet of more than 950 vehicles and 2,200 trailers, Culina Group continues to be a significant market leader in the food and drink chilled and ambient logistics sectors in the UK and Ireland.