Acorn team completes sale of Grassroots Group’s biggest division
Back in 2008, Grassroots Group partnered with Andrew and Hayley Gait-Golding in order to bring the pair’s dream of nutritious guilt-free lunchbox treats for kids into reality. Production began at Grassroots’ facility in Gouda and the pair’s brand, BEAR, soon became the leading kids’ health snack brand in the UK.
In 2015, BEAR was acquired by Lotus Bakeries. Lotus Bakeries purchased the BEAR production division from Grassroots, along with its newly constructed production facility in Wolesley. During construction of the facility, Gassroots and Lotus Bakeries worked closely with the Witzenberg Municipality to ensure socio-economic upliftment in the local community. The project is proof of a successful public-private partnership to improve economic development and provides numerous employment opportunities and rural development in the area.
Since Acorn Private Equity invested in Grassroots in 2011, the investment has realised an IRR of 55.7%. The proceeds from the BEAR carve-out that are attributed to Acorn Agri & Food’s 65% shareholding in Grassroots results in the largest realisation event in the history of the Group. The value unlocked by this transaction will be used to pursue growth and new opportunities for The Health Food Group.
Browse The Health Food Group’s website here.