The HaysMac team played a key role in Cake Box Holdings PLC’s acquisition of Ambala Foods Limited, providing Financial & Tax Due Diligence and SPA Advisory services.

The deal, valued at £22 million, was supported by Ian Cliffe (Partner), Sabina Burke (Director), Jeremy Hammond (Senior Manager), Phil Taylor (Assistant Manager), Nick Bustin (Director, Head of Employment Tax) and Dougie Todd (Partner, Co-Head of VAT).

The deal consisted of £16m for Ambala Foods Limited and £6 million for Ambala’s manufacturing facility located in Welwyn Garden City. This, along with associated transaction costs, was funded by a combination of an equity raise of £7.0m, a £15.2m Term Loan Facility, and a £0.2m retail offer.

Commenting on the acquisition, Sukh Chamdal, Chief Executive Officer of Cake Box said: “We are pleased to announce the acquisition of Ambala Foods Ltd, a leading manufacturer and retailer of Asian confectionery in the UK since 1964. This strategic acquisition represents a significant opportunity to leverage the strengths of both brands to expand our market presence and accelerate our growth.

Ambala’s rich heritage and established customer base complement Cake Box’s values and commitment to quality and innovation. By adding Cake Box’s expertise and resources to Ambala, we aim to create a unique blend of traditional and contemporary delicacies that appeal to a diverse audience, ultimately driving growth and profitability.

We are confident that this acquisition will resonate with Cake Box’s existing customer base and to its commitment to quality products and customer service.”

Ian Cliffe, Partner at HaysMac commented: “We’re delighted to support Cake Box Holdings PLC on the acquisition of Ambala Foods Limited. We’re pleased to have facilitated a smooth transaction process for all, and to have worked alongside Cake Box Holdings PLC during this exciting chapter in the company’s strategic growth.”