Lotus acquires 67% of NBF21 Aug 2015
Lotus Bakeries has announced that it has entered into a strategic partnership with Natural Balance Foods (NBF), the British wholefood company, acquiring 67% of its shares. NBF has a range of wholefood bars and snacks, made with 100% natural ingredients, sold under the Nākd and Trek brands. Over the last three years, NBF has grown […]
Lotus Bakeries has announced that it has entered into a strategic partnership with Natural Balance Foods (NBF), the British wholefood company, acquiring 67% of its shares. NBF has a range of wholefood bars and snacks, made with 100% natural ingredients, sold under the Nākd and Trek brands.
Over the last three years, NBF has grown sales threefold, primarily driven by demand for its all-natural products across the UK’s major grocery and retail, as increasingly health-conscious consumers gravitate towards healthy and tasty snacking solutions.
The business, which has ~40 employees, was founded in 2004 by Californian brothers Jamie and Greg Combs. NBF sales for the year to 31st March 2015 were £20m, and are estimated to be approximately £33m in the current year.
Lotus said that it has great respect for what has been realised by NBF’s founders and its management team, not only in terms of its growth, but particularly by its vision of wholefood snacking.
Lotus and the founders of NBF share the same ambitions to further grow the Nākd and Trek brands, Lotus said, by growing the UK market and continuing targeted international expansion. Through the multiple Lotus sales offices in over 15 countries NBF will have access to new markets and resources as well as a platform to further grow outside the UK. The Combs brothers will continue to lead and run the company.
“As a group, Lotus Bakeries has traditionally focused mainly on the indulgent segment of biscuits and snacking,” said Jan Boone, CEO of Lotus. “Additionally we recognize there is a growing global demand for healthy, unprocessed and tasty alternatives.”
“The Nākd and Trek brands, which are complementary to our current product and brand portfolio, will ensure Lotus has the right product and brand offering for all consumers.”
“Every strong brand has its own personality, its specific DNA and consumers. In that regard, Lotus will respect and maintain the identity and characteristics of both the Nākd and Trek brands, as we have done in the past for the Peijnenburg, Dinosaurus, Annas Pepparkakor and Snelle Jelle brands, whilst leveraging our unique capabilities to drive growth.”
“We are delighted to have Lotus by our side,” said Greg and Jamie Combs. “Lotus can assist significantly in international expansion, whilst supporting our passionate commitment to the principles and purpose of our company, brands and products. We look forward to continuing to lead the way in the food industry alongside our new friends and partners.”
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