The Hut Group (THG) has announced its acquisition of Brighter Foods Limited from Real Good Food plc for £43m.
The group purchased the snack bar manufacturer as parts of its expansion of THG Nutrition, the D2C platform’s healthy foods range.
For the full year prior to March 2021, Brighter generated £19.8m in revenues and £3.7m adjusted EBITDA.
This acquisition is not expected to be completed until on or around 11 May 2021.
Matthew Moulding, executive chairman and CEO of THG said: “We are delighted to announce our first major acquisition within THG Nutrition in 2021.
“Brighter highly complements our developed vertical integration strategy and strengthens our capabilities in the growing convenience and snack bar market. Nutritional bars are a high growth category for THG, with significant product extension opportunity across all our brands.”
He added: “The Brighter team bring a wealth of bar manufacturing and product development expertise, and in line with the Claremont and Berryman’s acquisitions, enables THG to significantly accelerate the launch of further product innovation into global markets, while increasing the proportion of THG Nutrition products wholly manufactured in-house.”