Bokomo Foods Ltd acquires Streamfoods and Fruit Bowl brand
Bokomo Foods Ltd has announced the acquisition of Streamfoods Limited. An asset-based lending facility has been provided by the Royal Bank of Scotland to support the completion of the deal.
Bokomo Foods Ltd is one of the UK’s leading manufacturers of breakfast cereals and is part of Pioneer Foods, a South African listed food and drinks maker. The company has sites at both Peterborough and Wellingborough and last month officially opened its new state-of-the-art production facility in the commercial area of Orton Southgate, Peterborough. Bokomo produces more than 12 million bowls of cereal per week for all of the major supermarket key chains. The new facility allows them to more than double the production capacity of the previous site.
The acquisition of Wisbech based Streamfoods Limited from the Wellness Group of companies strengthens Bokomo Foods Ltd’s product portfolio. Streamfoods market the brand Fruit Bowl which is a range that provides fruit snacks aimed at children that includes Fruit Peelers, School Bars and Fruit Flakes that each count as one of your five a day.
John Hiles CEO at Bokomo Foods (UK) Ltd said:
“The acquisition of Streamfoods significantly strengthens our product portfolio in the UK with a branded proposition, namely Fruit Bowl. It is a well known name with mums who are keen to provide their children with healthy snacks. We are delighted to be working with the Fruit Bowl team and are well positioned to grow this area as we respond to the roaring demand from the health conscious UK and European markets.
“The support we have received from the Royal Bank of Scotland’s Asset-Based Lending team has been excellent and we have been particularly pleased with the team’s ability to respond to the tight timescales we were working to.”
Mark Tunley, business development director, Royal Bank of Scotland Asset-Based Lending, said:
“Bokomo Foods (UK) Limited is an impressive, growing business and the acquisition of Streamfoods is a perfect fit. The addition of the Fruit Bowls brand complements their existing product range and forms part of their growth strategy to expand the business through organic and acquisition opportunities. We are delighted that we have been able to provide this support and deliver to the timetable required by the Bokomo management team.”
