Houlihan Lokey Advises Burts Snacks

Houlihan Lokey is pleased to announce that Burts Snacks, a UK-based, best-in-class premium snacking manufacturer, has been acquired by Europe Snacks. The transaction closed 2 March 2023.

Founded in the UK in 1995, Burts is one of the fastest-growing, independent premium snacking manufacturers in the country. The company produces a wide range of branded, own-label, and co-manufactured snacks, including hand-cooked potato chips, lentil-based chips, popcorn, and other snacks. Burts supplies its offering to major retailers, leading brands, and the out-of-home channel in the UK and across more than 15 countries. The company operates two well-invested manufacturing sites in Plymouth and Leicester.

Europe Snacks is the leading European producer of savoury snacks for third-party brands. It has significantly gained in scale over the past few years through organic growth and M&A, notably through the acquisition of Kolak Snack Foods in 2016 (UK) and Grupo Ibersnacks in 2018 (Spain). The acquisition of Burts represents a further step in expanding the group’s presence in the UK, with the product portfolio being highly complementary. Europe Snacks has been a portfolio company of Apax Partners since 2013.

Apax Partners is one of the leading private equity firms in Europe. With 50 years of experience, Apax Partners works with companies over the long term to make them leaders in their sector. The funds managed and advised by Apax Partners amount to more than €5 billion.

This deal represents another successful transaction for Houlihan Lokey in the snacking industry after recently supporting trüfrü in a sale to Mars; TruFood in a sale to Mubadala; Little Moons in a minority sale to L-Catterton; Proper in a sale to Exponent; and It’s All Good in a sale to Valeo Foods. With more than 60 transactions announced since January 2022, Houlihan Lokey has reinforced its global leadership in the consumer space.

Houlihan Lokey served as exclusive financial advisor to the shareholders of Burts Snacks and assisted in negotiating all aspects of the transaction on their behalf.

RELATED: Food & Beverage, Corporate Finance