Houlihan Lokey Advises Gosh!

Houlihan Lokey is pleased to announce that Gosh!, one of the UK’s leading plant-based food businesses, has been acquired by Sonae. Sonae is acquiring 95.4% for £64 million in cash consideration. The transaction completed on 6 September 2021.

Based in the United Kingdom, Gosh! is a referenced player in the attractive and high-growth plant-based food sector, delivering clean-label and free-from-allergen products—both under the Gosh! brand and private label—across the major UK retailers and food service players. The company has been recognised by its unique product development competences to create innovative products based on naturally sourced ingredients—from healthy snacks to ready-to-eat products—and its best-in-class clean-label and allergen-free manufacturing facilities. The company recorded a normalised turnover of £22 million in the fiscal year ending in May 2021. After the transaction, Gosh! will continue to be managed by the current team, who will hold the 4.6% minority stake in the share capital of the company.

Sonae is a multinational business group based in Portugal. It is present in 90 countries, operating in several sectors, including retail, telecommunications, financial services, commercial real estate, and technology. It is the largest private employer in Portugal, with more than 50,000 employees, and is listed on the Euronext Lisbon.

Houlihan Lokey acted as the exclusive financial advisor to the shareholders of Gosh!, advising them on all aspects of the transaction.

This transaction underscores Houlihan Lokey’s expertise in the exciting plant-based food sector, following the recent sale of Vivera to JBS. Moreover, this deal further strengthens Houlihan Lokey’s market-leading position advising fast-growing consumer companies.