Manchester-based online beauty and nutrition retailer The Hut Group (THG) said it has conditionally agreed to acquire Brighter Foods Limited, a specialist developer and manufacturer of snack bars, from Real Good Food plc for £43 million in cash.
THG executive chairman and CEO Matthew Moulding said: “We are delighted to announce our first major acquisition within THG Nutrition in 2021.
“Brighter highly complements our developed vertical integration strategy and strengthens our capabilities in the growing convenience and snack bar market.
“Nutritional bars are a high growth category for THG, with significant product extension opportunity across all our brands.
“The Brighter team bring a wealth of bar manufacturing and product development expertise, and in line with the Claremont and Berryman’s acquisitions, enables THG to significantly accelerate the launch of further product innovation into global markets, while increasing the proportion of THG Nutrition products wholly manufactured in-house.”