Swedish group buys Goody Good Stuff

MELISSA Burton has sold her gelatine-free sweets business Goody Good Stuff to Cloetta, a Swedish group listed on the Stockholm Stock Exchange.

The New Yorker founded the firm in Heysham after studying at Lancaster University and her sweets are now sold in 27 countries.

Cloetta, which did not disclose the value of the deal, said the acquisition was in line with its strategy to broaden its product range, “within the growing segment of natural candy”.

Last month Ms Burton won the Newcomer award at TheBusinessDesk.com’s 2013 North West Masters and told the audience she was hoping to attract external funding to fuel further growth.

She said: “I’m thrilled that we’ve been acquired by such a globally respected confectionery company as Cloetta.

“This is an extremely thrilling time for Goody Good Stuff and, with the kind of resource and experience Cloetta can provide, the future is looking very positive for the brand.”

In a statement Cloetta said: “Acquisitions are a part of our growth strategy and Goody Good Stuff gives us a possibility to strengthen our product offer within an interesting segment. The products from Goody Good Stuff can be consumed by everyone as it is a natural candy free from allergens. This is a segment where we see increased consumer demand and where Cloetta can play an important role.”

Cloetta, founded in 1862, owns a large range of brands including Chewits. Daniel Gallagher of PwC Corporate Finance advised the shareholders of Goody Good Stuff.

He said: “Combining with a business of Cloetta’s scale will allow Goody Good Stuff access to further growth opportunities across Europe, allowing the brand to fulfil its potential.”