Belgian cookie manufacturer Lotus Bakeries has acquired a majority stake in its British competitor Natural Balance Foods, for which it paid more than 80 million euro. In the United Kingdom, Natural Balance Foods is well-known for its healthy snacks, like Nakd and Trek.
Last year, the British company managed a turnover of nearly 30 million euro and a 3 million euro operating profit. The company, founded by Californian brothers Jamie and Greg Combs 10 years ago, expects a 50 % turnover increase this year.
Lotus Bakeries has now paid 82.8 million euro for 67 % of Natural Balance Foods' shares, with the two founders keeping hold of their shares and keeping their position at the top of the company. NBF now hopes to expand its reach outside of the United Kingdom, thanks to its new-found collaboration with Lotus Bakeries, which has opened up 15 new markets.
"Lotus Bakeries has, as a group, mainly focused on the traditional cookie markets, but we do realize there is a worldwide growing demand for healthy, unprocessed and tasty alternatives. The Nakd and Trek brands, complementary to our own product and brand ranges, will help provide Lotus with an all-encompassing range of products", Lotus CEO Jan Boone told Belgian newspaper De Standaard.