Innovative Bites, the importer and wholesaler of American grocery and confectionery products, has announced the acquisition of Hancocks, the UK’s leading supplier of wholesale sweets.
The takeover from H2 Equity Partners and management on Wednesday (April 12) marks Innovative Bites’ largest acquisition to date after it purchased Bonds of London in April 2016, doubling its annual turnover.
Vishal Madhu, founder and owner of Innovative Bites, said: “Our acquisition of Hancocks aligns with our aspirations to significantly grow Innovative Bites’ scale in the UK and across Europe. Our businesses are highly complementary and differentiated in our products, geography and approach, so we are hugely excited about our combined potential.”
Mark Watson, Hancocks’ exiting chairman said: “Hancocks adds to Innovative Bites a successful management team that have developed a strong product and customer base. Combine this with Innovative Bites’ American range and Bonds of London’s flexible packaging facility, and it will be a unique proposition in the confectionery category.”
Hancocks offers in excess of 5,000 branded and own label products across 20 UK sites, stretching from Dundee to Portsmouth.