Wed, 28 Jul 2021 | BUSINESS SALE
Investment firm S-Ventures has acquired plant-based snack and drink brand Pulsin in a £7.5 million deal. The deal follows S-Ventures’ acquisitions of plant-based snack maker We Love Purely in January and probiotic chocolate manufacturer Ohso Chocolate in February.
The deal to acquire 100 per cent of the share capital of Pulsin was financed through cash, loan notes and S-Ventures shares. The entire Pulsin team will join S-Ventures post acquisition, with Managing Director Simon Ashburner continuing in his role, while also joining S-Ventures’ senior team.
Founded in 2016, Gloucester-based Pulsin produces plant-based products including snack bars, protein powders and shakes, both under its own brand and for third parties. The company, which currently employs over 50 staff, generated sales of around £7.1 million in the year to April 30 2021.
Scott Livingston, Chief Executive of S-Ventures, commented: “We are delighted to welcome the Pulsin team to the S-Ventures family and look forward to accelerating the progress Pulsin has made in establishing itself as a prominent brand in this space.”
“Pulsin is an important acquisition for S-Ventures and reinforces our brand presence, total infrastructure and opportunity for synergy.”
Pulsin Managing Director Simon Ashburner added: “We are delighted in the successful sale and move to S-Ventures and look forward to further developing the brand in the UK and internationally.”
The acquisition comes amid rapid dealmaking growth in the health foods sector, driven by the increasing popularity and availability of healthy foods and widespread changes in diet and lifestyle. This has prompted big food brands and private investors alike to take more notice of health food brands, leading to widespread M&A.
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