Noble Foods, the largest supplier of eggs and egg products in the UK, has acquired premium chocolate desserts company Gü Chocolate Puds, in a deal reported to be worth £35m.
The Hertfordshire-based egg supplier has bought a majority stake in London-based Gü, which turned over an estimated £22m last year, from the company’s founder and MD James Averdieck. He will maintain a stake in the business and continue to manage it within the Noble Foods group. The move follows Noble Foods’ takeover of Serious Desserts, a South Wales-based premium desserts business, in August 2008.
Peter Thornton, Noble Foods chief executive, said: "This acquisition is consistent with our stated strategy of diversifying into value-added fresh food categories with attractive growth potential. Gü is recognised in the foodie world as a premium-quality, innovative and moreish brand. I am looking forward to working closely with James Averdieck and his team to continue to extend and grow the Gü brand."
Averdieck added: "Gü continues to trade well and this deal will allow us to accelerate our growth, taking the brand to new heights while maintaining the pace of innovation."