31/05/2010

Darwin Private Equity acquires Plum Baby Limited for £10 million

 

Darwin Private Equity ("Darwin") has completed its third transaction, with the acquisition of the organic baby food business Plum Baby Limited ("Plum") for £10 million.

Plum is a leading premium organic baby food company which has revolutionised the baby food market. Launched in 2006, Plum has pioneered the premium baby food sector in the UK and has witnessed dramatic year on year growth. Its award winning range of over 50 products, created with the ethos of ‘real food for babies, not just baby food’, is distributed in most major supermarkets and includes baby food puree pots, purees in pouches, baby cereals, fromage frais, baby biscuits and snacks.

The acquisition by Darwin comes at an exciting time in the development of Plum as the business is transitioning from an early stage entrepreneurial operation into a professional consumer branded business. Darwin’s experience of growing UK consumer brands, working alongside talented entrepreneurs, will help the Company continue this transition and transform it into a major player in the UK baby food market whilst at the same time retaining its entrepreneurial roots and flair for innovation.

Jonathan Kaye, partner of Darwin Private Equity, commented: "Plum is a very strong brand. The management team have done an excellent job to get the business to where it is today. We believe Plum has significant growth potential and we plan to invest heavily in the business to build upon its market position."

In 2007, Plum attracted investment from Venture Capital Trusts, now held by Beringea, Octopus and Foresight. All of these investors will exit on sale to Darwin. Advisers to Plum were Spayne Lindsay LLP. PricewaterhouseCoopers advised Darwin and were also the reporting accountants.

 
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