Private equity firm buys Gü pudding brand
Private equity firm Exponent has secured a deal to buy dessert brand Gü from Noble Foods for an undisclosed fee.
Gü said the deal will provide investment for the business to expand its current UK production site.
Sky News reported last week that Exponent had offered £150m to buy the pudding brand.
The company was bought by Noble Foods in 2010 and has seen particularly strong growth in recent years, hailing 25 per cent year-on-year growth to £69m in retail sales for the past year.
Peter Utting, managing director at Gü, said: “Exponent has already committed to a significant investment to further increase capacity at our UK site, which will enable us to meet our future demand from the UK, Europe and the US”.