Belgian biscuit and cake company Lotus Bakeries has taken over a majority stake Natural Balance Foods, the company behind the Nākd and TREK brands.
The snack bar producer has sold a 67% stake to Lotus to help it grow its products internationally. The shares come from external, non-active investors, whereas the founders Jamie and Greg Combs have kept most of theirs. They appointed specialist corporate advisory firm Stamford Partners earlier this year to seek external investment, and now it has been found they will continue to manage the company.
A statement said both parties see the transaction as long term and “there is a clear agreement that the DNA of the brands will be kept unchanged”.
Latest Nielson data shows that Nākd is now worth £25m, £4m up in the last quarter alone. The Combs said: “Today is an exciting and pivotal moment for the growth of wholefood snacking. Over a decade ago we founded Natural Balance Foods with the dream of a ‘Wholefood Revolution’, where natural, delicious and affordable snacks would be mainstream and loved around the world. This strategic partnership will be enormously helpful in that important effort and we are delighted to have Lotus by our side.”
Jan Boone, chief executive of Lotus Bakeries, which is best known for its caramelised Biscoff coffee accompaniments, said: “As a group, Lotus has always traditionally focused mainly on the indulgent segment of biscuits and snacking. Additionally, we recognise there is a massive, growing demand for healthy, unprocessed and tasty alternatives.
“The Nākd and Trek brands, which are complementary to our current product and brand portfolio, will enable Lotus Bakeries to have the right product and brand offering for 21st century consumers.”
The Combs brothers founded the business in 2004.
By Lesley Foottit
