International legal practice Osborne Clarke has advised long-standing client the Maple Syrup Group (the owners of Quidco and Shoop) and its key shareholders on a transaction with Top Online Partners Group (the owners of TopCashback) to create a prominent, global group within the money-saving industry.
The deal, which voluntarily will be submitted to the Competition Markets Authority (CMA) for review, would see each of the Maple Syrup Group and the Top Online Partners Group be combined under a new common holding company, CB Group Holdings Limited, in order to provide exciting and significant money-saving opportunities for the respective groups' current and future members across the world.
Should the transaction be approved by the CMA, following completion the existing consumer brands of Quidco, Shoop and TopCashback would remain independent of each other in order to preserve the focus on their own members, as well as safeguard the drive and commitment that has underpinned the growth each business has achieved leading up to this agreement.
By forming the new group, and allowing the existing brands within it to remain independent, it will also ensure future innovation and creativity for consumers as well as having a hugely positive effect on the UK and international consumer money-saving industry. The combined group would have a significant footprint outside of the UK with TopCashback and Top Benefit programmes currently live in China, the USA, India, Norway and Ireland, while the Maple Syrup Group operates in Ireland and Poland through its white label business, and Shoop in France and Germany.
An Osborne Clarke team led by Associate Director Ken Wilkinson advised on the transaction. Ken was assisted by Senior Associate Rebekah Winsor and Associate Will Carlyle. Partner Simon Neill and Associate Director Katherine Kirrage advised on the CMA clearance and competition law related aspects.
Ken said: "As Osborne Clarke has worked with the Maple Syrup Group for many years, it has been fantastic to advise on this complex transaction and creation of this ground-breaking partnership. Quidco and Shoop have been transformative to money saving online for consumers, and this combination represents an exciting milestone in the sector."
Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the retail sector, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.