Private equity firm Exponent has reached an agreement to acquire premium dessert brand Gü from Noble Foods for an undisclosed figure.
A clear leader in the UK chilled desserts market, Gü has led the growth of the premium segment for retailers with its restaurant-quality desserts. In recent years, it has expanded into new and growing categories such as free-from. The brad also has a strong and growing presence in France and Germany.
“We are excited to be partnering with Exponent on the next stage of Gü’s growth journey,” Pete Utting, managing director at Gü said. “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.”
Noble Foods acquired the brand in 2010 and has supported its growth over the last ten years, including by investing in a state-of-the-art manufacturing facility in Bishops Stortford which opened in 2018.
Utting said Exponent has already committed to a significant investment to further increase capacity at the site, which will enable the brand to meet future demand from the UK, Europe and the US.
Last year the brand claimed the top spot in the chilled dessert category, with retail sales value up 25 per cent YoY to more than £69m (Nielsen, Total Market data to w/e 24.04.21) - the second consecutive year Gü achieved double digit growth.
Simon Davidson, senior partner at Exponent commented: “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.
