Bright future for food manufacturer in £9m deal
Ingredients and baking products company Real Good Food has acquired an 84.33% interest in Brighter Foods for a total consideration of up to £9m, on a cash and debt free basis.
Advised by Blake Morgan, Brighter Foods makes snack bars for the healthy snacking market from its factories in Tywyn, Gwynedd. Employing 170 staff, the company targets areas such as diet control, gluten free, lactose free, low or no added sugar, sports nutrition, organic and fair trade, manufacturing both branded products as well as its own brands such as Wild Trail.
Brighter Foods was established in 2014 and has enjoyed phenomenal year on year growth since then. The company was also the overall winner of the inaugural Wales Start-Up of the Year award in 2016.
Following completion of the transaction, senior management of Brighter Foods will retain a 16% stake in the business and the Founder of Brighter Foods, Robin Williams, will remain as CEO.
Founder of Brighter Foods and Chief Executive, Robin Williams added: “This acquisition provides a platform for future growth. We’ve been looking for a business that shares our commitment to our products, people and the community. We’re delighted to have found that in Real Good Food and are very grateful to the team at Blake Morgan for their expert advice and professionalism when negotiating the sale on our behalf.”
“Robin and his team have achieved fantastic growth and stability in Brighter Foods and we want to congratulate Robin and his team on securing this investment. Real Good Food is a successful food business serving a number of market sectors. The investment will enable Brighter to expand and improve its capacity and product range even further and pursue its ambitious plans to invest and develop the existing manufacturing facilities in Tywyn." commented James Williams, Partner with Blake Morgan.
Blake Morgan has an international portfolio of multi-national client companies (public and private), SMEs, owner managed businesses and start-ups with a need for high-quality corporate and M&A support and advice.
The corporate team is acknowledged within the legal industry and in the independent legal directories, for providing a first-class level of service across a wide range of transactions including mergers, acquisitions, sales, private equity and joint ventures.