Equity fund chaired by Bob Geldof invests in fruit company
A private equity fund chaired by Sir Bob Geldof – 8 Miles LLP – has acquired a 19.5 per cent stake in Northants-headquartered Blue Skies Holdings from shareholders.
Blue Skies shareholders were advised on the 8 Miles investment by law firm Howes Percival and accountants at MacIntyre Hudson.
8 Miles focuses on investing in consumer-driven businesses operating in Africa with high growth prospects. Blue Skies supplies supermarkets in the UK and across the world with fresh cut fruit and freshly squeezed fruit juice.
Blue Skies operates farms and factories that supply and process fruit into finished consumer products in Ghana, Egypt, South Africa, Senegal, and Brazil. The products are then airf-reighted to the UK and other countries in Europe. Employment and wealth is created in the countries where the fruit grows.
Gerald Couldrake, corporate partner at Howes Percival, led the legal advisory team. He said: “Blue Skies is a wonderful business and with 8 Miles’ support it will grow from strength to strength. We really enjoyed working to achieve a successful completion with our colleagues from MacIntyre Hudson and the Blue Skies team.”
Anthony Pile, Blue Skies founder and chairman, added: “This is a significant step for Blue Skies as we look to branch out into new products and new markets in all parts of the world in this post-Brexit era. The teamwork and support from MacIntyre Hudson and Howes Percival really made the difference to a complex deal.
“Since we founded Blue Skies in 1997 it has grown to a turnover in excess of £90 million and has operations in Africa, the UK and South America. To have an investor of the quality of 8 Miles should help the business.”