Sugar Puffs owner sold in £82m deal
Leicester-based Big Bear Group has been sold to snack foods group Glisten for £82m. Big Bear, which owns the Sugar Puffs and Fox’s Confectionary brands, was previously backed by bank and asset manager Investec.
Leeds-based Glisten is the UK subsidiary of listed Finnish group, Raisio. Former investor Investec has realised an internal rate of return on its original investment of more than 37 per cent.
Big Bear was supported by Investec since its inception. The financier backed its first acquisition in September 2003 of a non-core division from Northern Foods.
The company subsequently acquired the Sugar Puffs and Honey Monster brands from Pepsico in 2005.
James Stirling, from Investec, said: “The management team behind Big Bear inspired confidence from the outset in terms of their track records and clearly articulated business plan, and as a result our decision to partner with them was made that much easier. Adopting a pragmatic and flexible funding approach is central to our strategy of backing high-calibre entrepreneurs.”
