UK-based brand Ape Snacks has been sold to an unnamed private investor and brand owner in the food and drinks sector.
The coconut snack brand was launched in 2016 by Zack Nathan, now 23, who found there to be a lack of appetising healthy snacks on the market and dropped out of university to start the business.
Aiming to tap into consumer demand for a “delicious and satisfying snack that doesn’t compromise on health”, Ape produces a range of natural coconut-based snacks that are sold in major UK retailers.
The business has started to expand its distribution into Europe and has seen revenues grow by more than 600% in the last two years.
The transaction is expected to accelerate distribution of Ape’s products in the UK and overseas, whilst providing further support to focus on innovation with products such as its vegan cheese-flavoured coconut puffs.
Asset management firm Alantra advised Zack Nathan on the sale of the business.
Alantra director Charles Lanceley said: “Ape Snacks is a great example of a UK food brand that has responded to increasing consumer demand for healthy ingredients and, as a result, has grown rapidly over the last three years. We are delighted to have advised on the sale which will realise significant value for its founder and provide strong backing for the business as it grows.”
He added: “Investment in healthy products is one of the key trends underpinning food and drink M&A this year. While there is no shortage of healthy options available to consumers, the successful brands like Ape all share the crucial trait of combining a clean nutritional profile with amazing taste.”
Ape Snacks founder Zack Nathan added: “Ape has been a fantastic journey with incredibly rapid growth.”
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial