Private equity firm, Exponent, has reached an agreement to acquire indulgent, premium dessert brand, Gü, from Noble Foods, for an undisclosed figure.
Noble Foods acquired the brand in 2010 and has supported its growth over the last 10 years, which included the investment in a state-of-the-art manufacturing facility in Bishops Stortford which opened in 2018.
Its newest range – Gü Inspirations, based on bakery favourites – was successfully launched earlier this year too, and there is a pipeline of further products in development.
Pete Utting, Managing Director at Gü said: “We are excited to be partnering with Exponent on the next stage of Gü’s growth journey. The team has a deep understanding of the food and drink sector and a strong track record in adding value to well-known brands such as Loch Lomond Whisky, Vibrant Foods and Eat Real and Proper, and most notably returning Quorn to growth and expanding its presence internationally during its ownership of the company between 2011 and 2016.
“Exponent has already committed to a significant investment to further increase capacity at our UK site, which will enable us to meet our future demand from the UK, Europe and the US.
“Noble Foods has been a great custodian of the brand over the last 10 years, and we are extremely grateful for their support in helping us grow the business.”
Simon Davidson, Senior Partner at Exponent, added: “We are very pleased to welcome Gü to the Exponent portfolio. We have followed the business for over a decade, having recognised its exceptional brand, great products and strong growth potential.
“We now look forward to supporting Pete and the team as they deliver its next phase of growth. Building on its success in the UK, we believe Gü has enormous international potential with the opportunity to create a truly global, premium indulgence brand.”
The sale is expected to conclude in June.