Innovative Bites acquires Hancocks to create confectionery powerhouse

Hancocks Holdings, the UK’s leading confectionery wholesaler Hancocks with 20 sites stretching from Dundee to Portsmouth, has been acquired by Dunstable-based confectionery manufacturer, wholesaler and distributor Innovative Bites.

Mark Watson, Hancocks’ exiting chairman: ‘This is a great acquisition for both businesses.’

Since being established in the UK in 2008, Innovative Bites has expanded its business rapidly and now boasts over 3,500 products, 7,000 retail customers, key brands including Baking Buddy, and exclusive distribution agreements for brands like Twinkies, Warheads and Trolli.

This is the second major acquisition for the company in the last 12 months. In April 2016, it purchased Bonds of London, one of the UK’s oldest confectionery businesses, and has since doubled its annual turnover.

The acquisition of Hancocks marks a major move for Innovative Bites and its largest acquisition to date. The combined group will boast a sales team of over 150, selling to over 40,000 customers and offering more than 7,000 confectionery products.

Founder and owner of Innovative Bites Vishal Madhu said: “Our acquisition of Hancocks aligns with our aspirations to significantly grow Innovative Bites’ scale in the UK and across Europe. Our businesses are highly complementary and differentiated in our products, geography and approach, so we are hugely excited about our combined potential.”

He added: “The transaction allows Innovative Bites to combine our best-in-class manufacturing and high-quality confectionery range with Hancocks’ unparalleled route to market.”

Mark Watson, Hancocks’ exiting chairman, said that this was a great acquisition for both businesses: “Hancocks adds to Innovative Bites a successful management team that have developed a strong product and customer base. Combine this with Innovative Bites’ American range and Bonds of London’s flexible packaging facility, and it will be a unique proposition in the confectionery category.”

Tel: Innovative Bites 020-3026 0230

Tel: Hancocks (01509) 216644

Published Date: April 13, 2017
Category: Wholesale Industry News