Noble Foods agrees Gü acquisition by Exponent

Source: foodmanufacture.co.uk

Mark Lynch, partner at corporate finance house Oghma Partners, said of Exponent: “Looks like a good owner for the Gü business given their historic track record of successfully growing food businesses.

“We expect that Exponent will be looking to invest in the business to drive growth and turn the brand from a household name in the UK to a household name outside the UK –  Europe and North America would be the initial obvious targets.”

Noble Foods acquired the brand in 2010 and supported its growth over the past ten years. It invested in a manufacturing facility in Bishops Stortford, which opened in 2018.

Last year Noble Foods drove the brand to the top spot in the chilled dessert category, with retail sales value up 25% year-on-year to more than £69m [Nielsen Total Market Data, w/e 24th April 2021] – the second consecutive year Gü achieved double digit growth.

The success was underpinned by continued product innovation, with the brand’s range of Cheesecakes, Mousse and Hot Puds expanding, as well as its entry into the free-from category.

Gü Inspirations

Its newest range – Gü Inspirations, based on bakery favourites – was successfully launched earlier this year and there was a pipeline of further products in development. 

Pete Utting, managing director at Gü, which was launched in 2003 by James Averdieck, a former marketer and management consultant, said the Exponent team ‘has a deep understanding of the food and drink sector’. He said Exponent also had ‘a strong track record in adding value to well-known brands such as Loch Lomond Whisky, Vibrant Foods and Eat Real and Proper’. It had also returned Quorn to growth and expanded its presence internationally during its ownership of the company between 2011 and 2016.

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