- Friday, April 26, 2024
By: Pramod Thomas
VIBRANT FOODS, an ethnic foods platform launched by Exponent Private Equity in June, has acquired Cofresh Snack Foods for an undisclosed amount.
The deal is set to bolster Vibrant Foods’ position as one of the leading producers and distributors of South Asian ethnic foods in the UK and across continental Europe.
Cofresh joins TRS Foods and East End Foods under the Vibrant Foods platform, both of which were acquired by Exponent Private Equity in November 2019.
The Patel family, Cofresh owners, will keep a minority stake in Vibrant Foods post the acquisition.
“Becoming part of Vibrant Foods is opening up an exciting new chapter in our history,” commented Priyesh Patel, managing director of Cofresh Snack Foods.
“Being part of a dynamic food group will allow us to accelerate our growth trajectory, maintaining and building our market-leading product offering, and helping us penetrate new markets and distribution channels.”
Founded in 1974, Cofresh is the leading Indian snack brand in the UK. It has forayed into healthy snacking sector launching Eat Real brand in 2014.
As of 2019, the company’s retail sales stood at around £75 million.
“We are very pleased to welcome Cofresh Snack Foods to Vibrant Foods,” said Rohit Samani, chairman of Vibrant Foods.
“Its broad range of authentic and high-quality snacks complements our existing product offering of South Asian staples, and further cements our position as one of the leading South Asian foods producer in Europe.
“The Eat Real brand provides us with a bridgehead into a customer base of health-conscious mainstream consumers, for whom our broad range of pulses is an ideal source of plant-based protein.”
TRS and East End Foods, which were owned by the Suterwalla and Wouhra families respectively, produce and sell a range of pulses, spices, flours and Indian food ingredients and snacks. Both families have re-invested in Vibrant Foods as shareholders.
London-based Exponent’s investment portfolio includes food and beverage firms like Quorn Foods, Loch Lomond and Meadow Foods.
