Posted Monday 1st March 2021
Joelson, the leading London law firm, has advised the Founders of PROPER, the well-known snack brand, on a majority stake investment by Exponent, the private equity firm.
The investment will be followed by the creation of a new powerhouse company, comprising of PROPER and Exponent’s Eat Real brand, under one CEO leadership. This will form Europe’s largest and fastest growing better-for-you snacking group. The brands will continue to operate separately with a shared vision to make healthy snacking mainstream and global. Founder of PROPER, Cassandra Stavrou, will remain a key figure in the new business and will sit on the board of directors.
Joelson’s Corporate team was led by Partner, Paul Chiappe and supported by Associate, Magdalena Janki and Solicitor, Harriet McDonald. The wider Corporate team included, Partners, Matthew Overton and Jennifer Maxwell-Harris and Senior Associate, Reema Jethwa supported PROPER’s management team on its transition into the new Exponent structure.
Cassandra Stavrou, Founder of PROPER, said:
“Joelson have now guided PROPER through two successful deals. It is a true testament to the long-term support and relationship we have with them. Paul and the team have been truly focused and attentive throughout the whole process. PROPER took nearly a decade to build and Joelson understood that finding the right partner was a major moment for me personally and the business. We are delighted and deeply appreciative of Joelson’s hard work in making this a successful deal.”
Paul Chiappe, Partner at Joelson, added:
“We have really enjoyed working with Cassandra, Ryan and the team at PROPER since the earliest days in their journey and are pleased that we will continue to support them during the next exciting phase of the company. This deal illustrates Joelson’s position, once again as the go-to legal firm in the consumer sector when it comes to representing founders and entrepreneurs. Both brands will benefit enormously from this partnership and we really look forward to seeing what comes next.”
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.
We have advised the Founders and shareholders of Pasta Evangelists, a UK-based specialist in fresh, artisan pasta & sauces on the sale of a majority stake to Barilla, one of the world’s largest food companies and the global leader in pasta.
