Cambridgeshire-based Wellness Foods has sold its fruit snacks business Stream Foods to cereal manufacturer Bokomo Foods for £7.5m.
Bokomo, which is a part of South African food and drink company Pioneer Food, manufactures porridge, granola and wheat biscuits and considers the acquisition as “a vital part” of improving the business’ growth and performance in the UK.
Stream Foods is the manufacturer of the Fruit Bowl snack brand which sells snack bars, fruit flakes, and yoghurt-coated flakes and raisins.
“While research and product development are key to our future plans, so too are the staff and manufacturing needs. As a result, the plan will be to invest in training, development and manufacturing capabilities, all set to position Fruit Bowl as the UK’s leader in the fruit snacking industry.”, commented Bokomo’s CEO John Hiles.
The marketing manager of Stream Foods, Nick Munby said: “Fruit Bowl offers a range of snacks that appeal and encourage youngsters to develop a fondness for fruit and new flavour. This approach to developing healthy fruit based products will remain at Fruit Bowl. Company investment within the healthy snack category, ensuring we are providing the very latest fruit-based food innovation that meets government health guidelines, will remain under our new ownership.”
The deal comes after Bokomo has officially opened its new production facility in the commercial area of Orton Southgate, Peterborough in July.