Pharmaceutical manufacturer Thornton & Ross has acquired a bigger warehouse to support the continued growth of an acquired business, with legal advice provided by HRC Law.
The company needs the new warehouse to satisfy the requirement for products within the e-cigarettes division of Thornton & Ross after it acquired the Socialites and BSMW e-cigarette brands.
Thornton & Ross, established in 1922, produces household name products and currently has a turnover in excess of £220 million.
The property deal represents the expansion of one part of the firmâs warehousing facilities to add a new 30,000 sq ft premises to its existing 6,000 sq ft.
HRC Law was brought in after acquiring the current warehouse for BSMW to help the firmâs urgent need to acquire further warehouse storage space.
Managing Director at BSMW, Ben Wilson, commented: “We were keen to get the new space secured as soon as possible.
“Demand had risen at an unprecedented rate and we were conscious of sales growing faster than our footprint could allow us to.”
HRC partner Helen Marsh added: “Thornton & Ross have continued to grow in both the UK and International markets.
“This new warehouse space will become a fundamental ingredient in driving their innovative growth strategy and arrives in their portfolio in time for the busy Christmas trading period.”
In August 2013, Thornton & Ross was sold to German giant STADA Arzneimittel AG for £221.11 million.
Thornton & Ross, founded in 1922 by Nathan Thornton and Philip Ross, is one of the UKâs leading manufacturers of over-the-counter (OTC) medicines and in recent years has also built a sizeable international business.
Many of its leading brands have become household names, including Covonia cough medicine, Hedrin lice treatment, Setlers indigestion tablets and Zoflora cleaning fluid.
Jonathan Thornton has been with the firm for almost 30 years and has been its executive chairman for the past 12 years. His father, Ralph, had previously been managing director for more than 20 years.