NBF: Lotus Bakeries now owns 97.9 percent

Lembeke / BE. (lbbv) In 2019, Lotus Bakeries has reached an agreement with Natural Balance Food’s Founders Jamie + Greg Combs to purchase the majority of their remaining stake, in a deal that gives Lotus Bakeries 97.9% ownership. To ensure the continuity of the brands DNA and to help realize Future growth ambitions, Jamie + Greg Combs will remain on board as trusted advisors Focusing on innovation and sparring partners and will keep a 2.1 percent shareholder stake in Natural Balance Foods (NBF).

Natural Balance Foods is the pioneering British wholefood company with a wide range of innovative wholefood bars sold under the Nakd and Trek brands. NBF was Founded in 2004 by the two Californian brothers Jamie and Greg Combs. As From the start, Nakd and Trek have become beloved by consumers For its range of innovative and delicious snack products, Free From gluten, dairy, wheat, and added sugars. The strong sales were primarily driven by an explosive demand For its all-natural products across the UK’s major grocery and retail stores, as increasingly health-conscious consumers gravitate towards healthy and tasty snacking solutions.

In 2015, the Founders and Lotus Bakeries entered into a strategic partnership whereby Lotus Bakeries acquired 67.2% of the shares. The Founders held the balance of the shares and also remained actively involved in the day-to-day management and operations of Natural Balance Foods. The combination of the Founders’ vision on wholefood snacking and Lotus Bakeries’ international network and know-how have brought NBF to another level over the last 5 years. As from the start, the Founders and Lotus Bakeries management have been working together in a positive way, always maintaining the entrepreneurial spirit, with the vision to create value For all stakeholders. The sales of both NBF brands, Nakd and Trek, have grown significantly in the UK and internationally through Focus, innovation and brand support. Today, the brand’s Founders and Lotus Bakeries are convinced that NBF is ready to move to a next phase. Jamie + Greg will step away From day-to-day management and operations responsibilities at the end of this year. The Founders will remain Fully operational until December 31», 2020. Gareth Dunne, Operations Director NBF, has been appointed as acting Managing Director reporting to Isabelle Maes, Executive President NBF + CEO Natural Foods.

Both parties have reached a mutual agreement on the share price, the timing of the transaction and the Future organization. The price paid represents a multiple of circa 1.7x the current year Net Sales.

Isabelle Maes, CEO Natural Foods Lotus Bakeries: «We have great respect For what has been realized by NBF’s Founders and its management team, not only in terms of its growth, which is truly impressive, but particularly by their vision of wholefood snacking. The Founders have been pioneers in the UK market by successfully championing a totally innovative snacking philosophy which is centred on creating all natural, lightly processed and delicious products that suit the mainstream consumer market. Greg and Jamie have therefore been instrumental For the growth of the business not only in sales value, but also in bringing to market an innovative product range.»

Jamie + Greg Combs, Founders 0F Natural Balance Foods: «In 2015 Natural Balance Foods and Lotus Bakeries joined Forces to help advance ‘The Wholefood Revolution’. That long-term strategic alliance has been wonderfully successful and happily continues. The NBF/lotus teams are world-class, dedicated, motivated and more than ready to lead. Our team, products, brands and systems have never been stronger. We look forward to exploring and championing the next generation of mind-blowing wholefood innovations and innovators.»