Crisps brand Burts Snacks has been acquired by France-based food producer Europe Snacks for an undisclosed sum.
The Plymouth-headquartered company, which posted sales of £68m in its last financial year, said it will “remain committed” to its UK manufacturing sites, where it employs around 350 people.
The firm, founded in 1995, will continue to operate its factories in Devon and Leicester under managing director Dave McNulty.
In a post on LinkedIn, Burts said the deal would allow it to “ better serve our existing customers and continue our exciting pipeline of product innovations”.
Burts chairman Jitu Patel, said: “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: 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 honour 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."
Europe Snacks, which has been supported by private equity firm Apax Partners, said the 100% purchase of Burts should be finalised in March.
The multinational group entered the UK market with the acquisition of Kolak Snack Foods in 2016, and said its purchase of Burts would help it accelerate its growth in “Europe’s largest snacking market”.
Etienne Lecomte, chief executive of Europe Snacks, said: “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.”
Founded in 1990, Europe Snacks produces savoury snacks for third party brands, abd has significantly gained in scale over the past few years notably through the acquisition of Kolak and Spain’s Grupo Ibersnacks in 2018.
Read next:
- Walkers Crisps strikes £3.5m council land deal
- Dorset pizza oven firm appoints former Dickies boss as new CEO
- Yeo Valley’s private equity arm backs snack brand deal
- 750 Devon holiday park jobs announced in huge recruitment drive
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
