Freeths advises on the purchase of Joules subsidiary
National law firm Freeths has advised TIM Group Holdings (TGH) on the purchase of a subsidiary of lifestyle brand Joules Group, saving over 50 jobs.
THG, a private equity house, founded by Tim Whitworth, which uses independent capital to invest in and partner with businesses, purchased the business and assets of The Garden Trading Company Limited from its administrators, after The Garden Trading Company was placed into administration on 16 November 2022 following the collapse of Joules.
Established in 1994, The Garden Trading Company Limited takes inspiration from the British countryside and city lifestyle trends to develop products for consumers and some of the world’s leading retailers.
The deal will see TGH work with the current management team to continue to provide home and garden products.
Freeths’ legal team was led by restructuring and insolvency managing associate Isobel Callaghan, who led a team across 4 of Freeths’ offices, and was supported by restructuring and insolvency partners Kevin Pinkerton and John Jeffreys, corporate partner Dahren Naidoo, real estate partner John Flathers, intellectual property partner Simon Barker, managing associate Lloyd Lane and associate Rachel Clements.
Commenting on the deal, Isobel Callaghan said: “It was a pleasure to work on this transaction which has helped safeguard 53 jobs overall. This deal really highlights the strength of Freeths’ cross-sector capabilities, and we look forward to seeing this business grow.”
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