UK - Investec Private Bank funds acquisition of Sugar Puffs

Sarah
03 August 2006

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Investec Private Bank’s Growth & Acquisition Finance division has backed Big Bear Ltd in the acquisition of the Sugar Puffs cereals and Harvest cereal bars businesses. Investec initially backed Big Bear with a composite senior, mezzanine and minority equity package, when it made its platform acquisition of Fox’s Confectionery, which also includes the Just Brazils, XXX Mints and Payne’s Poppets brands, from Northern Foods plc in 2003.

As part of the acquisition of Sugar Puffs, Investec has made a follow-on equity investment in the transaction, maintaining its position as the largest single institutional shareholder in the enlarged business. The enlarged Big Bear group comprises two well-invested, ambient food manufacturing facilities located in Leicester and Southall, with an aggregate net turnover in excess of £40m. The group strategy is to continue acquiring established ambient food brands, with a view to leveraging further group synergies.