Devon snack maker is acquired by French food giant
Crisp maker Burts has been bought by a French firm for an undisclosed amount.
The Plymouth-based business, which employs 350 staff in the UK, says it remains committed to bases in Plymouth and Leicestershire.
French firm Europe Snacks has bought the entirety of the business and is looking to expand into the UK market. The business will still be led by current managing director Dave McNulty.
Europe Snacks was supported by private equity business Apax Partners when it acquired Kolak Snack Foods in 2016.
The combination of the two companies in the UK will enable Europe to better serve existing clients and unlock growth through a wider range of products and a market leading innovation pipeline.
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.”
Jitu Patel, chairman of Burts, said: “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: 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.”
Bruno Candelier, partner at Apax, said: “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.”
Founded in 1995, Burts is a high-quality premium snacking manufacturer, with a track record of delivering growth especially the top end of the market.