Lotus Bakeries acquires majority of remaining stake in Natural Balance Foods
Lotus Bakeries has reached an agreement with our clients, Natural Balance Foods’ founders Jamie & Greg Combs, to purchase the majority of their remaining stake in a deal that gives Lotus Bakeries 97.9% ownership. Jamie & Greg Combs will retain a 2.1% stake whilst remaining on board as trusted advisors to ensure the continuity of the brands’ DNA and help realise future growth ambitions.
Natural Balance Foods (“NBF”) was founded in 2004 by the two Californian brothers and became a pioneering British wholefood company with a wide range of innovative wholefood bars sold under the Nākd and Trek brands. In 2015, NBF entered into a strategic partnership whereby Lotus Bakeries acquired 67.2% of the shares. Since 2015, the sales of both NBF brands, Nākd and Trek, have grown significantly in the UK and internationally through focus, innovation and brand support.
Isabelle Maes, CEO Natural Foods Lotus Bakeries:
“We have great respect for what has been realised 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:
“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. Jamie & Greg look forward to exploring and championing the next generation of mind-blowing wholefood innovations and innovators.”
Stamford Partners acted as sole financial adviser to the minority shareholders of NBF on the transaction. We are delighted to have supported Jamie & Greg on the next step in the NBF journey, as true pioneers in wholefood snacking under the hugely successful Nākd and Trek brands.