Wed, 24 Nov 2021 | BUSINESS SALE
Snack and confectionery group Zertus UK has acquired The Sun Valley Nut Company for an undisclosed sum, as a busy period of M&A activity in the UK’s health food sector continues. Sun Valley, which is based in Wirral, produces a wide range of peanut and nut-based snacks.
The target company’s products are sold through its own private label, as well as via food service and ingredients channels. It has three facilities across two sites in Bromborough, Wirral, which will continue to operate under Zertus’ control post-acquisition.
In its financial accounts to the year ending December 31 2020, Goodwood Holdings, the parent company of Sun Valley, reported post-tax profits of £277,973, down from £356,203 the year prior. However, the company’s revenue increased from £39.9 million in 2019 to £45.5 million last year, with many snack producers experiencing a boom in sales during COVID-19 lockdown.
This surge in snack sales, including health-based products, has seen rising M&A activity involving UK health food companies. One of the key drivers has been traditional snack-makers looking to expand their offerings into more healthy products amid a concerted shift in consumer tastes.
Zertus UK’s product portfolio includes Bailey’s Chocolates, which it produces through a partnership with Diageo, Kinnerton Confectionery and high-end chocolate-maker Lir Chocolates. Sun Valley will also join several other healthy snacking companies in the Zertus group, including vegan chocolate brand NOMO and fruit-based snack producer The Fruit Factory.
Zertus UK and Ireland CEO Paul Tripp said: "This is a strong acquisition for Zertus in the UK and one that complements our existing businesses in the healthier snacking sector. It will allow us to leverage our combined innovation and operational competencies to drive growth through exciting new products while enabling us to meet and exceed our customers’ expectations."
Sun Valley Nut Company Chairman Jim Hacking added: "We believe that in Zertus we have found the right long-term owner for the business. We’re confident that Zertus can make the necessary investments needed to take the business to the next level whilst preserving the heritage of the Sun Valley business we have lovingly built over the last 72 years."
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