PE-backed European group pounces for UK snack brand
Wed, 08 Feb 2023 | BUSINESS SALE
UK premium snack manufacturer Burts Snacks has been acquired by Europe Snacks, a group backed by private equity firm Apax Partners. The deal, which is set to close in March 2023, will see Europe Snacks expand its presence in the UK market, following its 2016 acquisition of Kolak Snack Foods.
Europe Snacks feels that the combination of its business with Burts’ UK presence will enable it to better serve existing clients, while unlocking further growth opportunities through the offering of a wider range of snack products and a new innovation pipeline.
The combined manufacturing and supply chain capabilities of the two firms will help the group to invest further in capacity and service as it looks to tap into the opportunities offered by the UK, which is Europe’s largest snacking market.
Founded in 1995, Burts Snacks produces a wide range of potato chip snacks and has secured several high-profile partnerships, such as with Guinness and Levi Roots. Post-acquisition, the company will continue to operate from its manufacturing facilities in Leicester and Plymouth, under the leadership of Managing Director Dave McNulty.
Europe Snacks CEO Etienne Lecomte said: "Within a highly uncertain economic context, it is key to reach a size that allows us to keep investing in our people and in our factories. Thanks to the trust of our shareholders, it has been made possible and I am very proud to welcome the Burts team to the group.”
Burts Chairman Jiru Patel commented: “I am convinced this acquisition will open up new opportunities, as both businesses are complementary to each other and share deep common values. It has been an honour to work with the Burts Family over the years and I would like to take this opportunity to wish the combined company every success in the years ahead.”
Apax partner Bruno Candelier added: "Since our initial investment in Europe Snacks, we have continuously supported the company and its management team to position itself at the forefront of innovation and scale its business, notably in the UK with the transformational acquisition of Kolak in 2016. The acquisition of Burts is fully in line with the roadmap set when we originally invested."
Read about the factors driving an influx of inbound M&A investment to the UK.
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