A long-established family-run foodservice firm has overcome the impact of the coronavirus pandemic on the sector by selling parts of its business.
Midsomer Norton-based L&F Jones, which trades as Jones Food Solutions, disposed of its wholesale and butchery divisions to a Devon-based food supplier, allowing it to concentrate on its core hotel and convenience store operations. 
L&F Jones opened its first shop 109 years ago in Stratton-on-the Fosse and has since grown to become one of the South West’s largest suppliers of ambient, chilled and frozen goods and meat to the foodservice sector.
It stocks around 6,500 catering and retail products including household, beers, wines, spirits, soft drinks and confectionery as well as groceries and supplies to a range of customers in a 50-mile radius of its depot.
The wholesale and butchery divisions were bought by Newton Abbot-based RD Johns, which has operated in Devon for more than 40 years and more recently expanded into Cornwall.
The acquisition expands its geographic footprint across the wider South West and offers greater scale and a broader customer base. Financial details of the deal have not been disclosed.
L&F Jones acting chairman Robin Allen said: “The deal with RD Johns brings together two businesses that have culture at the heart of their operations.
“Our customers and suppliers are key stakeholders and this transaction ensures there will be continuity in these relationships.
“With the support of our advisors, we were able to structure a deal and process that strengthened the wider L&F Jones business and ensure the transaction was completed quickly and efficiently.”
L&F Jones was advised by the corporate team in the Bristol office of accountants Mazars and a cross-sector legal team from law firm Thrings, which has an office in Bath.
Mazars’ Bristol office managing partner Tim Ball said: “I am delighted that our regional Corporate Finance team was able to help this Somerset based family business, that has been trading for 109 years since its first retail shop opened in in 1911.
“It has grown and thrived during that period, and survived two world wars, so we are very pleased to have helped secure an excellent deal for the shareholders, employees and suppliers during the current coronavirus crisis.”
Mazars deal advisory associate director Josh Thorneycroft said the transaction showed it was possible to complete deals in the current market, providing there were willing parties and a strategic rationale to do so.
“We are delighted to have structured a deal that worked for all parties and that addressed the complexities of carving out multiple divisions from the group,” he said.
The Mazars team also included Paul Joyce, Frances Mowat and Rhys Lewis.
Thrings’ team was led by company commercial partner John Richardson and solicitor Lizzie King – who advised L&F Jones’ acting chairman and board adviser Robin Allen and board members Ray D’Arcy and Dave Jones on the terms of the asset sale agreement.
John and Lizzie were assisted by head of employment Kerrie Hunt, who acted in respect of TUPE matters, and partner Alex Pinhey, who represented the owners of the freehold property from which the business operated in relation to the granting of a new lease to RD Johns.
John Richardson said: “L&F Jones has been providing its customers with a full range of ambient, chilled and frozen goods for more than a century, and during this period the company has earned a well-deserved reputation for excellence and customer care.
“Transferring this part of L&F Jones to the established and highly respected RD Johns will enable L&F Jones to focus on the hotel and chain of convenience stores side of the business, while ensuring continuity of service to the customers of its extensive range of butchery and wholesale food suppliers.
“Thrings is very pleased to have been able to help the business complete a transaction during what is a challenging period for the wholesale food supply industry.”
Torquay law firm Boyce Hatton advised RD Johns.
