The private equity firm agreed to acquire the snack business from previous owner Ajax Partners in September this year for an undisclosed sum – a deal that had been in the works for much of 2024.
Commenting on the acquisition, One Rock partner Kurt Beyer said: “We are extremely excited to welcome Europe Snacks to the One Rock portfolio. We look forward to collaborating with CEO Étienne Lecomte and management to build upon the company’s record of offering value, service and innovation to its customers.
Private label leadership
“Europe Snacks' leadership in the private label market across key product categories and geographies is indicative of the value proposition the company offers to both retailers and brand owners.”
Headquartered in Paris, France, Europe Snacks produces crisps, stacked chips, crackers and other savoury snacks for food retail end markets. In addition to producing own-label products, Europe Snacks is a co-manufacturing partner for branded food companies looking to extend their offerings in the European market.
Lukas Zeitlberger, principal at One Rock, added: “Europe Snacks is already differentiated in its position in the industry and the One Rock team is excited to continue the Company’s momentum in growing across products and channels.”
History of acquisitions
Europe Snacks purchased Burts Snacks in March 2023, with costs associated with the acquisition setting back the Devon-based crisp manufacturer £1.1m. In its full year results ended January 2024, Burts reported a pre-tax loss of £5.18m. This was despite an increase in turnover to £97.4m during the reported period.
The directors’ strategic report published on Companies House maintained a positive outlook and described Burts as being at an ‘exciting juncture’.
“The acquisition has not only expanded our market reach but has also presented us with avenues for growth and development,” the report said. “As directors, we are keenly focused on maximising synergies between our organisations to capitalise on these opportunities.”
Meanwhile, in other acquisition news, two brothers from the family that founded Aspall Cyder are entering the beer category after purchasing a brewery.
