THG PLC - Manchester-based firm that owns online retailing platform the Hut Group - Agrees to acquire specialist developer and manufacturer of snack bars Brighter Foods Ltd from Real Good Food PLC for GBP43.0 million. Notes the transaction, which was on a cash-free and debt-free basis, is expected to complete on or around May 11. Says the acquisition enables THG Nutrition to reduce lead-times for new product launches "significantly", while ensuring product IP remains exclusive.
"The Brighter team bring a wealth of bar manufacturing and product development expertise, and in line with the Claremont and Berryman's 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," says THG Executive Chair & Chief Executive Matthew Moulding.
THG current stock price: 641.00 pence, up 2.1% on Thursday
Real Good Food current stock price: 2.75p, up 5.8% on Thursday
By Zoe Wickens; zoewickens@alliancenews.com
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