Lotus acquires another British candy company

Lotus acquires another British candy company

Belgian cookie company Lotus Bakeries has acquired British Urban Fresh Foods, a company specialized in healthy snacks based on fruit and natural ingredients.

94 million euro

Urban Fresh Foods sells candy under brand names BEAR and Urban Fruit and has a 27 million pound turnover (37.2 million euro), but turnover has grown 50 % over the past few years. Lotus will pay some 94 million euro for Urban Fresh Foods, about 14 times its pre-tax profit.

 

"Lotus' mission is to offer each customer the right type of product and brand, both in the traditional and healthy snack department", Lotus Bakeries CEO Jan Boone said. "That is why I am very proud to be able to add these beautiful healthy snack brands to our portfolio."

 

It is the second time in quick succession Lotus invests in a British healthy snack manufacturer. It already acquired Natural Balance Foods in August, mostly known for its Nākd cookies.

Questions or comments? Please feel free to contact the editors


Fewer customers and lower turnover for H&M

15/12/2017

Swedish H&M Group suffered a 4 % turnover drop in the fourth quarter because its stores welcomed fewer customers.

Hunkemöller is European Retailer of the Year

14/12/2017

Dutch lingerie chain Hunkemöller has been elected “Retail of the Year Europe 2017-2018”. Q&A, which also elects a “Retailer of the Year” in Belgium and the Netherlands, organized the election for the third time.

Amancio Ortega leaves Inditex with strong quarterly growth

14/12/2017

Over the first three quarters of fiscal year 2017, Inditex’ turnover grew 10 % to 17.96 billion euro. The Spanish fashion company published the results as its boss, Amancio Ortega, stepped down.

Glimmer of hope for fashion retail in 2018

08/12/2017

McKinsey wrote in its The State of Fashion 2018 study that the industry has survived the harshest, even though nothing will ever be as it used to be. Growth will come from southern and eastern regions; fast-fashion will become even faster and the large companies will become even larger.

Gucci investigated for tax avoidance

04/12/2017

The Italian police raided Gucci’s offices in Milan and Florence, looking for evidence of tax avoidance. The fashion label admitted there was an investigation and that it is fully cooperating.

Quiksilver wants to acquire Billabong

01/12/2017

Surfing brand Quiksilver tabled a 150 million dollar (125 million euro) bid for its competitor, Billabong. It may be the latter’s only way out, with compounding losses in the past few years.

Back to top