{"id":925,"date":"2021-04-28T09:09:27","date_gmt":"2021-04-28T08:09:27","guid":{"rendered":"https:\/\/www.westcoastcapital.co.uk\/acquisition-of-brighter-foods-limited\/"},"modified":"2021-04-28T09:09:27","modified_gmt":"2021-04-28T08:09:27","slug":"acquisition-of-brighter-foods-limited","status":"publish","type":"post","link":"https:\/\/www.westcoastcapital.co.uk\/acquisition-of-brighter-foods-limited\/","title":{"rendered":"Acquisition of Brighter Foods Limited"},"content":{"rendered":"<p class=\"has-text-align-left\"><strong><em>\u00a343.0m\u00a0investment in best-in-class nutrition bar formulation and production capability<\/em><\/strong><\/p>\n<p class=\"has-text-align-left\"><strong><em>FY 2022 impact for THG of c.\u00a0\u00a320.0m\u00a0revenues and c.\u00a0\u00a36.5m\u00a0adjusted EBITDA, post c.\u00a0\u00a33.0m\u00a0of cost synergies<\/em><\/strong><\/p>\n<p>THG PLC\u00a0(\u201cTHG\u201d or the \u201cGroup\u201d), the proprietary technology platform specialising in taking brands direct to consumers (\u201cD2C\u201d), has conditionally agreed to acquire Brighter Foods Limited (\u201cBrighter\u201d), a specialist developer and manufacturer of snack bars, from Real Good Food plc for\u00a0\u00a343.0m, payable in cash. \u00a0<\/p>\n<p>The acquisition of Brighter enables THG to bring in-house decades of product know-how and innovative resource in the formulation and production of high quality, healthier snack bars. Brighter develops and manufactures for globally pre-eminent confectionery, wellness and breakfast food brands and has already reformulated the majority of THG Nutrition\u2019s bar range, underpinning the c.\u00a0\u00a33.0m\u00a0cost synergy. The acquisition enables THG Nutrition to reduce lead-times for new product launches significantly, while ensuring product IP remains exclusive, and also delivers substantial cost synergies.<\/p>\n<p><strong>Financial Impact<\/strong><\/p>\n<ul>\n<li>Subject to Real Good Food plc shareholder approval, THG has agreed to acquire Brighter for\u00a0\u00a343.0m\u00a0on a cash and debt-free basis.<\/li>\n<li>The transaction is expected to complete on or around 11 May 2021.<\/li>\n<li>For the 12 months prior to March 2021, Brighter generated\u00a0\u00a319.8m\u00a0in revenues and\u00a0\u00a33.7m\u00a0adjusted EBITDA.<\/li>\n<li>The acquisition is not\u00a0expected to be material to the Group\u2019s near-term financial performance, and therefore guidance remains unchanged for FY 2021.<\/li>\n<li>For FY 2022, incremental revenue of c.\u00a0\u00a320.0m\u00a0and adjusted EBITDA of c.\u00a0\u00a36.5m\u00a0is expected.\u00a0\u00a0<\/li>\n<\/ul>\n<p>THG is committed to investing in and building best-in-class BRC AA Grade product innovation and manufacturing facilities, in support of its THG Nutrition portfolio of global, digital-first brands including Myprotein, Myvegan, Myvitamins, Exante and Command. The acquisition of Brighter reflects a continuation of this vertical integration strategy, further\u00a0enhancing the Group\u2019s\u00a0new product development and in-house manufacturing capabilities, complementing the acquisitions of\u00a0nutrition product suppliers, Claremont Ingredients Limited (\u201cClaremont\u201d) and David Berryman Limited (\u201cBerryman\u2019s\u201d) undertaken in December 2020.<\/p>\n<p><strong>Matthew Moulding, Executive Chairman and CEO of THG commented:<\/strong><\/p>\n<p><em>\u201cWe are delighted to announce our first major acquisition within THG Nutrition in 2021. Brighter highly complements our developed vertical integration strategy and strengthens our capabilities in the growing convenience and snack bar market.\u00a0<\/em><em>Nutritional bars are a high growth category for THG, with significant product extension opportunity across all our brands.<\/em><\/p>\n<p><em>\u201cThe Brighter team bring a wealth of bar manufacturing and product development expertise, and in line with the\u00a0<\/em><em>Claremont and Berryman\u2019s acquisitions, enables THG to significantly accelerate the launch of further product innovation into global markets, while increasing the proportion of THG Nutrition products wholly manufactured in-house.\u201d<\/em><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.thg.com\/news\/acquisition-of-brighter-foods-limited\/\">Acquisition of Brighter Foods Limited<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.thg.com\/\">The Hut Group (THG)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a343.0m\u00a0investment in best-in-class nutrition bar formulation and production capability FY 2022 impact for THG of c.\u00a0\u00a320.0m\u00a0revenues and c.\u00a0\u00a36.5m\u00a0adjusted EBITDA, post c.\u00a0\u00a33.0m\u00a0of cost synergies THG PLC\u00a0(\u201cTHG\u201d or the \u201cGroup\u201d), the proprietary&#8230;<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.7 - 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