S-Ventures acquires gluten free food company Hero UK Ltd

• S-Ventures plc acquires gluten-free food manufacturer, Hero UK
• The business was acquired from Swiss consumer foods group, the Hero Group
• Shawbrook supported the acquisition with a £6m funding package

Juvela manufactures and distributes gluten-free and free-from products from its factory in Pontypool, Wales. They have been manufacturing gluten free food for people diagnosed with coeliac disease for over 25 years and are one of the leading brands serving the UK coeliac community. Its product range includes bread, flour mixes, breakfast cereals, pasta, pizza bases, crackers and biscuits.

S-Ventures plc, which has an investment strategy to acquire health & wellness, organic food and wellbeing businesses across the UK and Europe, has agreed to acquire Juvela for a consideration of £8m cash and five million new ordinary shares in S-Ventures.

S-Ventures turned to Shawbrook for funding to support the acquisition and Shawbrook worked closely with the team to provide a four-year term loan of £5.5m and a £0.5m revolving credit facility.

 Scott Livingston, the Founder and CEO of S-Ventures comments:

“We are delighted to add the Juvela business to our platform. We welcome Hero Group as new shareholders in S-Ventures and are excited for the opportunity this acquisition brings to drive substantial growth and value for all our shareholders.

“Shawbrook has been very supportive from the start and remained flexible throughout the process. They took the time to understand our strategy and the Juvela business to ensure they could provide the most ideal solution to achieve our goals.” 

James Hogan, Director, Corporate Lending at Shawbrook adds:

“S-Ventures is an ambitious and fast-growing company within the wellness and organic food space, and we were pleased to support Scott and the whole team as they continue to expand their presence by taking on a seventh brand in this thriving sector.

“Juvela is a fantastic company that provides a range of high-quality gluten-free products, and we wish the brand all the best as it begins this new phase in its development under the S-Ventures banner. It was a pleasure to work with both teams throughout this process and we are looking forward to continuing this relationship going forward.”