The acquisition of Independent Irish Health Foods (IIHF) has been agreed by food investment fund Bellingham Capital.
The purchase of IIHF is the second buy-out for Bellingham Capital since August, when the company purchased Bunalun owner National Organic Products Ltd.
The IIHF owns the True Natural Goodness brand and distributes over 10,000 organic, vegetarian, vegan, free-from and fair trade brands to its base of 1,000-plus retailers across Ireland and Europe. The wholesaler has a workforce of 89 and in 2021 its turnover reached €25 million.
The terms of the deal stipulate that day-to-day operations will be un-changed; the company co-founders, Richard Wilkins and Henry Bartlett, will remain with the business in consultancy roles.
Mark Goodman, founder and CEO of Bellingham Capital, comments: “Our intention is to have a collaborative partnership with the team at IIHF and to continue to build upon the great work they have been doing, while also helping to further develop and expand the company in a positive way.”
On Twitter the Health Stores Ireland commented on the new venture: “Warmest of welcomes to Mark Goodman and all at Bellingham Capital. Well wishes to Richard, Ollie, Sinead and Henry and all at True Natural Goodness and Independent Irish Health Foods for their continued partnership and friendship over the decades. Onwards with renewed vigour and confidence.”
