Real Good Food (RGF), the bakery ingredients company, last month (April 5) paid £9M to acquire an 84% interest in Brighter Foods, based in Tywyn in Wales.
The deal, which will be paid in two equal instalments – 50% on completion and 50% upon finalisation of the company’s 2017/18 audited accounts – will be financed from RGF’s existing debt facilities.
Brighter Foods makes snack bars for the healthy snacking market from its factories in Tywyn, Gwynedd in Mid Wales, where it is an important local employer with around 170 full-time staff.
“Brighter Foods fits well into our strategy to consolidate profitable well-run businesses in niche areas of the food manufacturing industry,” said RGF executive chairman Pieter Totté.
“[Brighter Foods ceo Robin Williams] and his team have achieved fantastic growth and stability in the business and we are looking forward to continuing the success story. Real Good Food investment will enable Brighter Foods to expand and improve its capacity and product range even further.”