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THG Acquires Snack Bar Manufacturer


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. ....

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Investegate |Real Good Food PLC Announcements | Real Good Food PLC: Disposal, Notice of GM and Trading Update


Disposal of Brighter Foods Limited, Notice of General Meeting and Trading Update
Real Good Food plc, (AIM: RGD) the diversified food business,
announces that it and the Managers have conditionally agreed to sell the entire issued share capital of Brighter Foods Limited for an aggregate cash consideration of £43.0 million on a cash free/debt free basis to THG plc ( THG ).  RGF, through its subsidiary NBF, has an interest in 84.334 per cent. of the issued share capital of Brighter Foods Limited with the balance owned by Brighter s Managers. The Group will therefore receive cash proceeds of £35.64 million.
The consideration due to the Sellers is subject to customary adjustments for (amongst other things) the actual working capital at Completion against an agreed target level. The net assets being disposed of amount to £17.3 million, resulting in a profit on disposal of approximately £20.4 million. ....

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