American food wholesaler Innovative Bites has acquired one of the UK’s oldest sweet businesses, Bonds of London.
The move is part of Innovative Bites’ long-term growth strategy to become the UK’s leading confectionery supplier and is targeting a combined 2016 turnover exceeding £50m. Last year the company had a turnover of £25m in sales and supplied a number of supermarkets and discounters across the UK and Europe.
The wholesaler launched in 2008 and its exclusive range includes Hostess Twinkies, Boylan, Warheads, Cookie Dough Bites and MOM cereal brands. The latest acquisition will see the headquarters of both companies retained along with the 150 combined staff.
Vishal Madhu, founder and owner of Innovative Bites, said: “Bonds of London is one of the UK’s oldest and leading confectionery suppliers and its acquisition will significantly enhance the product offering and services to Innovative Bites customers.
“Over the years both companies have established a deep-rooted culture of success based on winning products and industry-leading customer service, so together I believe the sky is the limit. The acquisition represents a win-win for both Bonds of London and Innovative Bites and we are all very excited about the future.”
Philip Courtenay-Luck, Bonds of London managing director, said: “This is a move that strengthens both businesses and will allow us together to better serve our customers’ needs. Innovative Bites imported American products combined with Bonds traditional sweet brands and highly respected multiple own label supply service makes for a powerful combination and I am hugely excited about being part of this next phase.”
Bonds began making handmade sweets in 1895, and today it works with major multiples and independent retailers and sells 450 products, including old fashioned jars, gift jars and traditional bags, along with the UK’s leading small 39p bag range.