Empire World Trade

Empire World Trade (EWT), the leading importer and distributor of high-quality fruit, is ripe for further expansion following a buy-out of its institutional investor 3i, backed by ISIS Equity Partners and HSBC.

Having previously advised EWT on the company’s original MBO in 1997 and maintained a positive relationship with the client, Clearwater was also appointed to advise on the team’s secondary buy-out. The latest deal resulted in a profitable 41 per cent IRR exit for 3i. ISIS invested £5.2 million as part of the transaction.

With a turnover exceeding £80 million, EWT supplies fruit to major retailers - including Tesco, Marks & Spencer and Morrisons.

The company, with operations at Spalding and Bristol Port, currently imports almost 15 per cent of the UK apple market. Since the deal, EWT has strengthened its core business and added a further major supermarket brand to its growing customer base. The company is also diversifying into different product sectors.

Gary Linsell, EWT’s managing director, said:

“Clearwater didn’t just complete the original transaction back in the late 1990s. They maintained strong links with us and their excellent knowledge and understanding of us as individuals helped to execute the deal.”