Exponent Private Equity has signed an agreement to acquire indulgent, premium dessert brand Gu from Noble Foods for an undisclosed sum.
Founded in 2003, Gu offers a variety of restaurant-quality desserts such as cheesecake, mousses, and hot pudding, as well as a range of free-from products. In 2010, Noble Foods acquired Gu brand and has supported its growth since then.
“We are excited to be partnering with Exponent on the next stage of Gü’s growth journey,” said Pete Utting, Managing Director at Gu. “Exponent has already committed to a significant investment to further increase capacity at our UK site, which will enable us to meet our future demand from the UK, Europe and the US.”
Duncan Everett, CEO of Noble Foods Group, said: “We strongly believe that Exponent has the necessary expertise to grow the Gü business even further, especially increasing its international reach. The sale allows us to invest and grow Noble Foods’ core business and brands.”
Source: Exponent press release