Online giant The Hut Group (THG) is to acquire healthy snack bar business Brighter Foods, strengthening its presence in a high-growth category.
THG will pay £43m cash for Brighter Foods, which develops and manufactures snack bars. The deal, which has been conditionally agreed, is expected to complete next month.
The purchase is not expected to be material in the short term for THG, so profit guidance for the current year has not been changed. However, in the 2022 financial year it should generate incremental sales of approximately £20m and adjusted EBITDA of £6.5m.
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