Private equity investor CapVest added to its food and drink rebuild this week with a $300m purchase of a major US cookie manufacturer.
The London-headquartered firm has historically been a major player in UK food and drink, though it stepped back in 2021 with the sale of Young’s Seafood and Karro owner Eight Fifty Food as well as Valeo Foods, the home of Kettle Chips, Jacob’s and Rowse, for a combined £2.7bn.
The $305m purchase of the Voortman Cookies brand this week is another step in its efforts to build a renewed portfolio of premium snacks and treats.
Voortman will become part of Second Nature Brands, a US-based manufacturer of premium and nutritional snacks bought by CapVest in 2022.
The deal includes all Voortman trademarks and its leased manufacturing facility in Ontario, Canada. Around 300 employees will also transition with the business.
Voortman is sold across the US and Canada and would bring Second Nature’s total annual sales to over $500m, the company said.
It adds to Second Nature’s purchase of Sahale Snacks last year for $34m, and Brownie Brittle in 2022.
For now, CapVest retains a small foothold in the UK food and drink market through its ownership of Inspired Pet Nutrition and Butchers.
Commenting on the Voortman purchase, Victor Mehren, CEO of Second Nature Brands, said: “This strategic and transformative acquisition fits perfectly into our better snacking and treating portfolio of brands.
“The acquisition of Voortman broadens our scale within the cookie category and unlocks new opportunities and capabilities for future growth in the US and Canada.”
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