Inverleith-backed Planet Organic buys As Nature Intended

Eliza Punshi
17 March 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

Inverleith-backed Planet Organic has wholly acquired London-based organic and natural food retailer As Nature Intended.

The deal comes almost a year and a half after Scottish private equity firm Inverleith acquired a majority stake in Planet Organic for reportedly £15m. The GP did not deploy fresh equity on the latest acquisition.

The acquisition of the company's seven outlets helps Planet Organic meet its target of 10 new stores in five years, making it reportedly the largest organic grocery chain in the UK with a total of 15 outlets.

According to publicly available data, As Nature Intended reported 2018 EBITDA of £156,000.

The deal will result in all As Nature Intended stores being rebranded as Planet Organic and company owner and CEO Caroline Gooding will step down from her role.

Inverleith partner and Planet Organic chairman Ben Thomson said the acquisition allowed Planet Organic "to grow quickly into locations we have already identified as ideal for our brand". He also cited plans to grow further as the popularity of healthy foods continues.

Company
Founded in 1999 and started by Iceland supermarket founder Sir Malcolm Walker, As Nature Intended is a chain of seven organic and natural food stores in London. The company's revenues in 2019 were just over £11m and in 2018.

People
Planet Organic – Ben Thomson (chairman); Peter Marsh (CEO).
As Nature Intended – Caroline Gooding (owner, CEO).

Advisers
Company – Skadden Arps Slate Meagher & Flom (legal); Deloitte (tax).