Real Good Food has acquired a majority interest in Welsh snack bar manufacturer Brighter Foods.
The company said it has taken an 84.33% stake for up to £8 million. It added that Robin Williams will remain on as CEO.
Following the transaction, senior management of Brighter Foods will retain a 15.67% stake in the business.
Brighter Foods creates and manufactures own-brand and branded snack bars for the healthy snacking market from its factories in Tywyn, Gwynedd in Mid Wales, where it employs some 170 full-time staff.
The company produces snacks which are targeted at areas such as diet control, gluten free, lactose free, low or no added sugar, sports nutrition, organic and fair trade.
Mr Williams said: “I’ll be staying as CEO and together we have already agreed a headline plan to continue growing our manufacturing facilities in Tywyn. This is great news for the town and its people.
“Real Good Food recognises the importance of good people in business and the importance of the factory to the local community and I am really delighted that this partnership will build on our success to date.”
Pieter Totté, Executive Chairman of Real Good Food, added: “Brighter Foods fits well into our strategy to consolidate profitable well run businesses in niche areas of the food manufacturing industry.
“Robin and his team have achieved fantastic growth and stability in the business and we are looking forward to continuing the success story. Real Good Food investment will enable Brighter Foods to expand and improve its capacity and product range even further. We are excited about the future prospects.”