Saturday, August 15, 2020

Indian snack brand acquired by PE-backed company

An East Midlands-based Indian snack brand has been acquired for an undisclosed sum by Vibrant Foods, a newly established private equity backed ethnic foods company, which also comprises TRS Foods and East End Foods.

Cofresh Snack Foods, based in Leicester, is made up of two key brands; Cofresh, which manufactures over 200 traditional South Asian savoury products, and Eat Real, the healthy snacking company.

Established in the UK in 1974 and now a second-generation family business, the Patel family, Cofresh Snack Foods’ selling shareholders, will be re-investing in the new company with a minority equity stake.

Fortus business advisors and accountants advised on the multimillion-pound sale, led by Sanjay Khullar from the Leicester office who has worked with Cofresh for over 20 years. Shakespeare Martineau advised the Patel family on the legal and corporate aspects of the deal.

Sanjay Khullar, Fortus, said: “Cofresh is a well-established brand within the area and it’s good to know that current management will remain involved in the business.

“This has been a large and complex transaction, made even harder by COVID lockdown. It’s a great deal for the Patel family and Vibrant Foods are getting a fantastic business to help build their new brand.

“The Midlands remains the home to many quality businesses and this sale is tangible evidence that businesses with strong brands and good management are still in high demand in the area.”

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