A company which supplies sweets to thousands of UK shops has been sold by its founding family in a multi-million pound deal.
Hancocks Group, of Loughborough, has been bought by its management and a private equity firm.
The group operates 18 cash and carry depots across the country and sells 5,000 different types of confectionery, including pick and mix sweets.
One of the depots is in Jubilee Drive, Loughborough, next to the company's head office and national distribution centre.
Managing director Mark Watson led the management buy-out from brothers Andrew and Adrian Hancock, whose father Ray founded the business in Shepshed in 1962.
Mr Watson, who has now become chief executive, said: "I am delighted to be leading such a strong company that has the prospect of becoming a much bigger player within confectionery wholesaling."
Following the deal, London-based H2 Equity Partners hold a majority stake, with the remainder of the business owned by Mr Watson, finance director Richard Garner and purchasing director Jonathan Summerley. The Hancocks have left the company.
Hancocks has around 25,000 customers, including the Vue cinema chain and Merlin Entertainments, owner of Alton Towers, Thorpe Park and Madame Tussaud. It also supplies independent stores.
The group made a pre-tax profit of £4.3 million from sales of £120 million in the year to December 31, 2011.
Andrew Hancock, the group's former chairman, said: "From a sweet shop in Shepshed, our family has grown the business to a group that serves many thousands of businesses.
"We now hand the baton on with pride, knowing that Hancocks can only go from strength to strength."
Hancocks Group, of Loughborough, has been bought by its management and a private equity firm.
The group operates 18 cash and carry depots across the country and sells 5,000 different types of confectionery, including pick and mix sweets.
One of the depots is in Jubilee Drive, Loughborough, next to the company's head office and national distribution centre.
Managing director Mark Watson led the management buy-out from brothers Andrew and Adrian Hancock, whose father Ray founded the business in Shepshed in 1962.
Mr Watson, who has now become chief executive, said: "I am delighted to be leading such a strong company that has the prospect of becoming a much bigger player within confectionery wholesaling."
Following the deal, London-based H2 Equity Partners hold a majority stake, with the remainder of the business owned by Mr Watson, finance director Richard Garner and purchasing director Jonathan Summerley. The Hancocks have left the company.
Hancocks has around 25,000 customers, including the Vue cinema chain and Merlin Entertainments, owner of Alton Towers, Thorpe Park and Madame Tussaud. It also supplies independent stores.
The group made a pre-tax profit of £4.3 million from sales of £120 million in the year to December 31, 2011.
Andrew Hancock, the group's former chairman, said: "From a sweet shop in Shepshed, our family has grown the business to a group that serves many thousands of businesses.
"We now hand the baton on with pride, knowing that Hancocks can only go from strength to strength."
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