Little Moons, a UK-based muffins industry, has offered a “vital” minority hobby to US private-equity company L Catterton.
Based in 2010 by means of brother and sister Howard and Vivien Wong, Little Moons makes ice cream wrapped in a mochi dough. The goods are offered into foodservice and UK outlets, together with Tesco, Sainsbury’s, Asda and Morrisons. Little Moonds additionally exports to Europe.
L Catterton, headquartered in Connecticut with US$30bn of property below control, has invested within the industry by means of its Eu arm. Monetary phrases weren’t disclosed.
In 2020, Little Moons spent GBP3.5m (then $4.5m) on a new manufacturing facility in Park Royal, London, whilst conserving its present plant in Neasden in the United Kingdom capital.
Mr Wong stated: “This transaction marks a thrilling milestone for Little Moons, which started as a small circle of relatives industry 12 years in the past, as we capitalise at the explosive call for for our mochi ice cream, each in the United Kingdom and the world over.
“We firmly consider that, in L Catterton, we’ve discovered a spouse that stocks no longer handiest our ambitions but in addition our values, and their make stronger will lend a hand us to scale our achieve globally.”
L Catterton has made quite a lot of investments within the pet-food class, maximum just lately marking its access to China with an undisclosed stake within the Natural & Herbal emblem proprietor Shanghai Enova Puppy Merchandise.
In human meals, L Catterton received a majority stake closing yr in US-based bakery Kodiak Desserts. It additionally led a $105m Sequence B spherical in Aleph Farms, a cell-based meat industry in Israel.
Jean-Philippe Barade, a spouse at its Eu arm, stated: “Little Moons has evolved a market-defining emblem with vital international growth possible. We see an amazing alternative to boost up enlargement and growth no longer handiest throughout the sexy and rising top class ice-cream class, but in addition throughout the even higher top class snack class.”
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