Ape Snacks, which produces coconut-based bites, puffs and curls for a number of multiple retailers, is expected to benefit from increased distribution and innovation support as a result of the deal.
The brand was launched in 2016 by then 21-year-old Zack Nathan, who believed there was lack of appetising healthy snacks on the market, so left university to launch the business.
Ape’s range of Coconut Puffs come in three flavours – Lightly Salted, Thai Chilli, and a new vegan Cheese variety. Its Crunchy Coconut Bites range comprise Natural, Sesame, Chia and Chocolate variants.
The Crispy Coconut Curls range, meanwhile, is made up of Salted Chocolate, Lightly Salted, and Pepper & Spice.
‘A fantastic journey’
Nathan, who will now run his medical technology start-up full-time, said: “Ape has been a fantastic journey with incredibly rapid growth.”
The business has recently started to expand its distribution into Europe, helping revenues grow by more than 600% in two years.
The sale was anticipated to accelerate distribution of Ape’s products in the UK and overseas, while providing further support to innovation, according to investment and asset management firm Alantra (formerly Catalyst Corporate Finance), which advised on the sale.
Alantra director Charles Lanceley said Ape Snacks was a “great example” of a UK food brand that had responded to increasing consumer demand for healthy ingredients.
‘Significant value for its founder’
“We are delighted to have advised on the sale, which will realise significant value for its founder and provide strong backing for the business as it grows,” Lanceley said.
“Investment in healthy products is one of the key trends underpinning food and drink mergers and acquisitions this year.
“While there is no shortage of healthy options available to consumers, the successful brands like Ape all share the crucial trait of combining a clean nutritional profile with amazing taste.”
Ape Snacks is currently available in Tesco, Ocado, Sainsbury’s, Asda, Holland & Barrett, Co-op, Whole Foods Market, Boots, WHSmith and Planet Organic.
Meanwhile, organic food producer Wessanen has secured a nationwide supermarket listing for its Kallø range of chocolate-topped rice cakes.