Bakery company Lotus Bakeries has acquired British snack maker Urban Fresh Food, the producer of the Bear brand, in a deal reported to be worth £70 million ($104 million).
The deal marks the Belgian firm’s second acquisition of a British food firm in 2015, with the company having bought Natural Balance Foods in August.
Bear, Urban Fresh Food’s flagship brand, offers a range of fruit snacks including in the baby foods market and the breakfast cereal category. Meanwhile its Urban Fruit line is described as a “contemporary range targeted at 25-45 year olds, [… ] created to help busy young adults get access to delicious natural snacks that deliver on taste and engagement”.
Commenting on the launch, Lotus Bakeries chief executive Jan Boone stated: “The mission of Lotus is to create delicious products and brands to meet all consumer needs, both in the more indulgent and healthy snacking segments. That is why we are delighted to announce today the partnership with these magnificent brands”.
“As a group, Lotus Bakeries wants to offer both more indulgent specialties and healthy snacking alternatives”, he added. “Additionally we recognize there is a growing global demand for healthy alternatives hence we invested in Natural Balance Foods in the summer and now are delighted to add the brands of UFF. With this acquisition we will lead the way and become the true ‘Category Captain’ of the healthy snacking category in the UK and abroad”.
Source: Lotus Bakeries / Telegraph