94 million euro
Urban Fresh Foods sells candy under brand names BEAR and Urban Fruit and has a 27 million pound turnover (37.2 million euro), but turnover has grown 50 % over the past few years. Lotus will pay some 94 million euro for Urban Fresh Foods, about 14 times its pre-tax profit.
“Lotus’ mission is to offer each customer the right type of product and brand, both in the traditional and healthy snack department”, Lotus Bakeries CEO Jan Boone said. “That is why I am very proud to be able to add these beautiful healthy snack brands to our portfolio.”
It is the second time in quick succession Lotus invests in a British healthy snack manufacturer. It already acquired Natural Balance Foods in August, mostly known for its Nākd cookies.
