Dixons founder lured by Acorn

Lord Kalms of Edgware, the founder and now life president of Dixons, has joined the board of European soft drinks start-up Acorn Brands as chairman, while Fleming Family & Partners has made €100 million (£69 million) available to fund expansion.

FF&P Private Equity is taking a minority stake in the company and has pledged significant levels of cash to help finance potential acquisitions. Acorn owns the OJA fruit juice brand and intends to build a portfolio of ‘high-potential’ brands in the UK and Europe.

‘Acorn has a unique strategy for driving shareholder value in the soft drinks industry and will be harnessing this model to grow organically and by acquisition,’ asserts David Donnelly, CEO of FF&P. ‘This type of agreement is our natural territory – as a family office FF&P can be more flexible than traditional private equity funds in working as a long-term investment partner.’

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