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Entertainment News: News

Wed 18 Jan, 2012
By Newsdesk

"The deal is worth an undisclosed seven figure sum"

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Former Wales rugby captain Gareth Thomas, currently in the Celebrity Big Brother house, is part of a consortium that has acquired drinks manufacturer Turbo Drinks Company for a seven-figure sum.

Thomas has acquired the business, which distributes its products from a bonded warehouse in Yorkshire, with former Wales rugby player Gareth Williams and business partner Sean Smith through the London-headquartered Sean Smith & Associates vehicle. The purchase price is understood to be about £7m.

The deal comes less than a year after Turbo Drinks secured £200,000 of funding from three groups of angel investors as it pushed on with its bid to market its premium strength shandy.

The deal with the angels was handled by Leeds and Sheffield based law firm Lupton Fawcett.

The company produces Turbo Shandy, a premium-strength shandy made with lager and alcoholic lemonade. Its brands also include Turbo Green, Turbo Blue and Turbo Black.

In a statement, Sean Smith & Associates said: "The deal is worth an undisclosed seven figure sum. Plans are in the pipeline that will make the trademarked 'Turbo Shandy' brand global and will involve the creation new jobs."

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