Thu, 23 Sep 2021 | MERGER
Elysian Capital has acquired cereals and cereal bar maker Deeside Cereals through its subsidiary firm Wholebake Ltd. Following the acquisition, the two firms will be merged to create a new group in the UK’s cereal and bars sector.
Wholebake was acquired by Elysian earlier this year and the takeover of Deeside Cereals is the first add-on acquisition to Wholebake. The deal comes amid strong M&A activity in the UK’s health food sector, which is being driven in part by consumers increasingly opting for healthier snacks such as cereal bars.
Deeside Cereals was incorporated in 1976 and is based in Flintshire, North Wales. The company produces private label cereals and snack bars for retailers, including the Perfect Balance range. For the year ending March 31 2021, the company reported turnover of £33.2 million, down from £35.5 million a year earlier due to the impact of COVID-19, and a post-tax loss of £977,000.
Following the merger of the two firms, the new group will be led by Wholebake CEO Simon Faithfull and non-executive director Peter Unsworth. The group will focus on innovation and growth in the snack and private label cereals sector.
Peter Unsworth commented: “Wholebake and Deeside Cereals are a great fit with complementary capabilities. We share similar values and ethics and a passion for innovation to meet emerging consumer needs and efficient service to meet customer demands. By coming together, we can continue to add value and lead the way in the expanding snack bar category and own label cereal markets.”
Elysian Capital CEO Ken Terry added: “I am delighted we have been able to bring Deeside and Wholebake together, in line with our stated strategy of growing our businesses both organically and through opportunistic acquisition.”
“By combining the two businesses we believe we have created the premier contract manufacturer of snack bars and cereals in the UK and diversified the group’s offering into another strand of the healthy food manufacturing space.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Attractive well-fitted licensed grill restaurant & cocktail bar. Grade II listed building situated in a parade, excellent trading position. At present Turkish cuisine, which could obviously be continued and in our opinion there is potential for other...
LEASEHOLD
Fish and Chip Shop, Kebab and Burger Bar in Watford For Sale. Situated end of parade, busy road, Hertfordshire.
LEASEHOLD
The business occupies a sought after trading position with the advantage of a free car park in front of parade. in addition there is a park opposite.
LEASEHOLD
01
|
May
|
Testing technology firm acquired at 3.5x revenue | BUSINESS SALE
MK Test Systems Limited, a Somerset company that designs and...
01
|
May
|
Portfolio of 24 northern pubs acquired by Punch Pubs & Co | COMMERCIAL PROPERTY
A portfolio of 24 pubs across the North East and Yorkshire h...
01
|
May
|
West Midlands engineering firm acquired in pre-pack deal | BUSINESS SALE
A specialist engineering firm based in the Black Country has...
04
|
Aug
|
Elysian Capital acquires cereal bar maker amid health food M&A boom | MBO/MBI
Private equity firm Elysian Capital has acquired cereal bar ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.