Kestrel Foods Expands Portfolio with Acquisition of Indie Bay Snacks
Northern Ireland-based Kestrel Foods, a premium snack and granola manufacturer, has announced the acquisition of Indie Bay Snacks from Nurture Brands, signalling its ambitious growth strategy within the snack industry.
The purchase, for an undisclosed sum, adds Indie Bay, a London-based brand known for its innovative pretzel thins, to Kestrel Foods’ already diverse portfolio.
The acquisition is expected to propel Kestrel Foods towards its vision of becoming a prominent force in the global snacking category, bringing Indie Bay under its established brands, including Forest Feast, ACTI-SNACK, and Just Live a Little.
Indie Bay Snacks has captured the market’s attention with its on-the-go pretzel thins, positioned as a healthier alternative to traditional crisps, boasting 70% less fat.
This acquisition aligns with Kestrel Foods’ objectives of creating a fast-paced, innovative snacking business that offers unique products for consumers seeking alternatives in the highly competitive snack market.
Furthermore, the acquisition also reflects Kestrel’s commitment to diversifying its product lineup and strengthening its footprint in both the savoury snack and breakfast categories.
The acquisition has been welcomed by Nurture Brands, the previous owner of Indie Bay. According to the managing director of Nurture Brands, the sale enables their company to concentrate on its other leading plant-based brands, including Rebel Kitchen, Jax Coco, and EMILY.
In a statement, Kestrel Foods’ founder and CEO praised Indie Bay as a brand with great potential for growth due to its strong market presence, innovative product design, and effective go-to-market strategy.
Kestrel Foods has experienced impressive growth over the past year, achieving a turnover of £23.2 million by April 2023 – a 20% increase year-on-year – despite rising operating costs and net profit reductions due to higher interest rates.
Key to its success has been a significant expansion of its distribution across Great Britain and an increase in international exports, which now span over 20 countries. The company’s portfolio of branded products also saw substantial growth, with branded business increasing by 36.3%, a testament to Kestrel’s strategic investment in brand development and product innovation.
This acquisition marks another milestone in Kestrel Foods’ journey to expand its reach within the snack and breakfast categories. Since acquiring Just Live a Little in December 2021, Kestrel has been re-launching the brand with a gluten-free focus, intending to capture a more significant share of the breakfast market.
The addition of Indie Bay to its roster strengthens its position as a diverse player with options that cater to evolving consumer preferences across multiple meal occasions.
In conclusion, in a competitive and evolving market, Kestrel Foods’ acquisition of Indie Bay Snacks exemplifies its strategy to enhance its offerings and deliver innovative products that meet consumer demand for healthier snack options.
With Indie Bay’s brand appeal and Kestrel’s established distribution channels, the acquisition is set to bolster Kestrel Foods’ growth trajectory and reinforce its role as a major contender in the global snack industry.
News Credits: Kestrel Foods acquires Indie Bay Snacks in strategic growth move
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