The investment firm has acquired a 75% stake in the Birmingham snack manufacturer in a six-figure deal
Investment firm S-Ventures has acquired a majority stake in We Love Purely, a snack manufacturer based in Birmingham, UK. The investment firm paid £137,600 for 75% stake in the business.
The company makes a range of healthy crisps made of plantains under the Purely brand. It argues that plantains are the more nutritious cousin of the banana.
With three flavours in the range – sea salt; nice & spicy, and wild garlic – products are sold in the UK and overseas. Stockists include Harrods, Selfridges, Harvey Nichols, Ocado, Holland & Barrett, and Spinneys in Dubai.
We Love Purely was co-founded by Stefania Pellegrino. As part of the deal, she will remain as managing director. The Purely team will also remain in place.
Reporting on the deal, S-Ventures chairman David Mitchell said: “We are delighted to have acquired our stake in Purely, and we very much look forward to working with Stefania and her team. Stefania has achieved great results, but together we believe we can grow faster and exploit opportunities more effectively in the healthy snacking space.”
S-Ventures, an investment vehicle listed on AQUIS exchange, seeks to identify investment opportunities in the health and wellness, organic food and wellbeing sectors within the UK and Europe.
The firm aims to identify ways to cross-fertilise opportunities between the target companies to scale the individual entities. S-Ventures also looks for exit opportunities and synergistic collaborations and believes that scaling can create significant value creation for all stakeholders.
Date published: 22 January 2021