23rd April 2021
THG (The Hut Group), the Manchester-based firm best known for its online beauty and technology activities, has agreed to acquire nutritional snack bar maker Brighter Foods from Real Good Food in a £43m deal.
The company stated that the acquisition will bring Brighter’s product “know-how and innovative resource” in-house after it had already helped reformulate the majority of THG Nutrition’s snack bar range.
As well as cost synergies of around £3m, the deal is also expected to help THG Nutrition to reduce lead times for new product launches while ensuring product IP remains exclusive.
In the year to March 2021, Brighter generated adjusted EBITDA of £3.7m on revenues of £19.8m. It makes millions of bars a year at its factory in Tywyn, Wales, for brand partners around the world in the slimming, sport, confectionery, organic, and free-from categories. It also makes its own ‘Wild Trail’ brand of bars which are sold by Ocado.