European producer of savoury snacks Europe Snacks has announced its 100% acquisition of crisp brand, Burts Snacks for an undisclosed sum, in a move that will enable Europe Snacks to accelerate growth in the European snacking market.
Supported by Apax Partners, Europe Snacks entered the UK market with the acquisition of Kolak Snack Foods in 2016. The acquisition of Burts, which will be finalised in March of this year, represents a further step in expanding the company’s presence in the UK.
According to Europe Snacks, the combination of the two companies in the UK will enable it to better serve existing clients and unlock growth through a wider offer of snacking products and an innovation pipeline.
Europe Snacks and Burts’ combined manufacturing and supply chains will facilitate the company to further invest in additional capacity and service. Burts will continue to operate from its two manufacturing facilities in Plymouth and Leicester led by current Managing Director, Dave McNulty.
“Within a highly uncertain economic context, it is key to reach a size that allows us to keep investing in our people and in our factories. Thanks to the trust of our shareholders, it has been made possible and I am very proud to welcome the Burts team to the group,” said Etienne Lecomte, CEO of Europe Snacks.
“Burts provides high quality snacking and has a strong track record of delivering growth without ever compromising on quality. Since investing in the company back in 2006, it has been a very enjoyable and impressive journey. I have a huge admiration for Europe Snacks,” added Jitu Patel, Chairman of Burts. “I am convinced this acquisition will open up new opportunities, as both businesses are complementary to each other and share deep common values. It has been an honor to work with the Burts Family over the years and I would like to take this opportunity to wish the combined company every success in the years ahead.”
“Since our initial investment in Europe Snacks, we have continuously supported the company and its management team to position itself at the forefront of innovation and scale its business, notably in the UK with the transformational acquisition of Kolak in 2016. The acquisition of Burts is fully in line with the roadmap set when we originally invested,” concluded Bruno Candelier, Partner at Apex.
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