Nordic Capital- and Cidron-backed Cloetta AB has acquired UK-based candy company Goody Good Stuff.
Cloetta acquired Goody Good Stuff from a group of investors for an undisclosed sum. The acquisition will have a limited effect on Cloetta's future operating profit, according to the company.
Cloetta acquired Goody Good Stuff in order to broaden its product range within the natural candy segment.
Nordic Capital and Cidron together own 38.1% of listed company Cloetta. Nordic Capital's portfolio company Leaf, which the GP originally backed in 2005, merged with Cloetta in 2012.
UK-based Goody Good Stuff was founded in 2010. The company is a natural gummy candy range that is made with a plant-derived bio-gum technology, which eliminates the need for animal-based gelatin.
Goody Good Stuff is in a growth phase and recently signed a UK distribution agreement with a US convenience store. Sales amounted to around SEK 10m in 2012.
Bengt Baron is the CEO of Cloetta.
This is the second deal inked by the GP via Wisequity V, which closed on its €260m hard-cap in July 2019
Pascal Meysson joins from Alcentra and has previous experience at Deutsche Bank and Charterhouse
Mirabaud is reportedly planning to invest via its Living Heritage private equity fund
HIG invested from its Growth Buyout Equity Fund III to acquire Vernacare from Palatine