Wed, 23 Dec 2020 | BUSINESS SALE
Confectionery giant Ferrero has completed the acquisition of cereal bar company Eat Natural for an undisclosed sum. The acquisition is part of Ferrero’s attempts to expand its brand portfolio into the healthy snacking sector.
The deal will include the company’s Halstead production facilities, with Ferrero Group pledging to retain the company’s management and employees. Ferrero says it plans to build on the company’s “strong brand authenticity” and support its expansion into new markets and opportunities.
Eat Natural has over 300 employees at its Halstead production site, where it manufactures small batch fruit and nut and cereal bars. Its bars are made largely by hand and utilise common household ingredients.
Giovanni Ferrero, Executive Chairman of Ferrero, describes the acquisition of Eat Natural as a strategic fit for the group, which has recently been seeking to expand into new sectors. In October, it acquired part of Fox’s Biscuits from 2 Sisters Food Group for £246 million, its second European acquisition of the year.
Ferrero Group CEO Lapo Civiletti commented: “We are bringing a much-loved, authentic product portfolio into our business, with a very strong market position in the healthier snacks segment.”
“This will allow us to be present in this relevant market segment, fulfilling the evolving needs and trends of consumers. We very much look forward to working with the Eat Natural team as we build our journey of growth together.”
Praveen Vijh, co-founder of Eat Natural, said: “Ferrero is a fabulous company and we are proud that they would like us to be part of their family. We have many shared ethics and both have a vision to make healthier snacking available for everyone.”
In its most recent accounts, to the year ended March 31 2020, Eat Natural reported turnover of £35 million, gross profit of £3 million and profit for the year of £1.2 million. At the time, its net assets were valued at £12.6 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
Charming village freehouse with guest accommodation available in the picturesque setting of Bude, Cornwall, offering a unique opportunity for hospitality entrepreneurs.
FREEHOLD
An exciting opportunity to acquire a well-located and popular roadside pub in the charming town of Wareham, Dorset, presenting a fantastic prospect for investors or hospitality enthusiasts
LEASEHOLD
A unique opportunity presents itself with a charming 18th century public house nestled on the picturesque Jurassic Coast, offering a blend of historical allure and stunning seaside vistas.
LEASEHOLD
24
|
Apr
|
Malaysia's IJM buys a stake in London construction firm JRL | BUSINESS NEWS
IJM Corporation Berhad has bought a 50% stake in Borehamwood...
24
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
24
|
Apr
|
Red Blaze chooses employee ownership | BUSINESS SALE
Twigworth, Gloucester-based events business Red Blaze has tr...
07
|
Oct
|
2 Sisters Food Group sells part of Fox’s Biscuits to Ferrero | BUSINESS SALE
2 Sisters Food Group has announced that it has sold part of ...
Business Sale Report is the complete resource for finding genuine 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.