Burts Chips, the UK-based crisp manufacturer, is branching out into popcorn with the acquisition of Savoury & Sweet, owner of the Lord Poppington’s and Popcorn & Me brands.
The deal, said to be worth in excess of £10 million, will see an investment of around £5 million in Savoury & Sweet’s factory in Leicester, including a new popcorn production line, the Leicester Mercury reports.
Savoury & Sweet, which manufactures popcorn for private label customers, as well as marketing products under its own brands, turned over £8.7 million in 2017.
Speaking to the Leicester Mercury, Burts Chips managing director David Nairn said: “The site in Devon has reached its maximum capacity and we have been looking for a second site to provide the opportunity to grow and saw this as very opportunistic”.
“The Burts business has grown significantly over the last five years, from £11.4 million in 2013 to an anticipated £37 million post-acquisition, for 2017”, he added. “While impressive, our ambition is to drive the business to over £100 million in the next five years to become the UK’s biggest player within premium snacking. This is an exciting time for everyone working at Burts and Savoury & Sweet”.
Source: Leicester Mercury / Savoury & Sweet
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