UK-based herbs and spices supplier The Bart Ingredients has acquired Berkshire-based OTP Foods, expanding its presence into the wet ingredients segment.
For the transaction, the company was backed by Santander Corporate & Commercial. The funding will provide Bart Ingredients with a platform for further organic growth and capitalize on market opportunities.
The Bart Ingredients CEO David Collard said that OTP Foods provides a natural extension to the company's business and a fresh outlet for its NPD skills based on real consumer insight.
"We can already boast several "firsts" in "wet" ingredients and we want to drive further change. There is ample scope for taking the consumer into new product areas, and we want to be the company that takes them there," added Collard.
Santander Corporate & Commercial relationship director Simon Whyatt said, "Bart is an excellent example of a local business with an iconic national brand. Its success is the result of an exceptional management team, whose understanding of the market in which they operate means they are consistently ahead of the curve."
Established in 1963, Bart Spices supplies around 120 herbs and spices to supermarkets across the UK.
