Peak Rock acquires Halo Foods

Halo Foods was announced for sale in July 2020 and vendor Nimbus hired PwC to run the process, according to Unquote sister publication Mergermarket.

Peak Rock Europe invests in companies with enterprise values of $50-750m, providing equity tickets of $30-300m, with no minimum ticket for add-on transactions.

The firm is currently investing from Peak Rock II, which closed on $1.3bn in January 2018.

The company will continue to seek additional platform investments within the industry across Europe and North America, as well as add-on acquisitions to drive growth.

Previous funding
Halo raised an expansion package totalling £3.25m from 3i in 1994.

In 2004, 3i exited its 14.33% holding in Halo, in a deal initially valued at £5.94m, with an additional £8m due upon the company meeting certain profit targets in 2005 and 2006.

In July 2016, Nimbus acquired a majority stake in Halo from Raisio. Terms of the deal were not disclosed.

Company
Headquartered in Newport, Wales, Halo is a manufacturer of healthy bars and snacks, with a portfolio that includes cereal bars, fruit and nut bars, and gluten-free, high-protein and nutritionally controlled bars. Founded in 1980, it generated revenues of £35.2m in the year ending on 28 December 2019 and employs around 250 people.

People
Peak Rock Capital – Alex Dabbous (managing director).
Halo Foods – John Tague (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Buyouts
• UK / Ireland
• Consumer
• Secondary buyout
• United Kingdom