S-Ventures Buys British Juvela Brand

S-Ventures, a company investing in and growing brands across the natural, wellness and food-tech categories, acquired 100% of the share capital of Hero UK Ltd. The company manufactures and distributes a range of branded gluten free products under the Juvela brand which include a high quality and tasty free-from range of breads, mixes and pastas sold in the UK retail and pharmacy markets.

They have been manufacturing gluten free food for people diagnosed with celiac disease for over 25 years and are the leading brand serving the UK coeliac community under the brand name Juvela.

In the year ended 31 December 2021, Juvela achieved a gross revenue of GDP8.8m and has continued to operate profitably this year with expected gross sales of GDP8.6m. The net assets acquired amounted to GDP7.5m.

S-Ventures has agreed to acquire Juvela for GDP8m cash and five million new ordinary shares in S-Ventures. In order to provide funding for the acquisition and for general working capital needs, S-Ventures has also entered into new loan facilities provided by Shawbrook Bank Limited including a four year term loan of GDP5.5m and a GDP500,000 revolving credit facility.