Mangrove, a premium spirits distributor in the UK, has set up a separate company within the Coe Group of Companies, in a move to facilitate quick growth.
Mangrove Global managing director Nick Gillett will now act as a joint shareholder in the new business, reported harpers.co.uk.
Following the formation of the new company, Mangrove Global will, however, remain part of the Coe Group that comprises Coe Vintners and Barwell & Jones, among other companies.
Speaking about the latest development, Gillett told the news site that the move would allow the firm to look to run projects with brand owners and customers that it previously would not have done.
"While Coe's is a significant customer, we also have other significant customers and this move reinforces our separate identity," he added.
Prior to the move, Mangrove has been operating as a fully autonomous arm within the Coe Group, with Gillett serving as commercial director of the group.
