A majority stake in Birmingham healthy snack brand which is stocked by the likes of Harrods, Selfridges and Fortnum & Mason has been acquired.
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S-Ventures has taken a 75.1 per cent interest in We Love Purely through the issue of 1,529,267 ordinary shares in the investment company along with a cash payment of £30,000 to repay an outstanding Purely shareholder loan.
Purely is behind the Purely Plantain Chips brand and is also stocked by Harvey Nichols, Ocado and Holland and Barrett.
Stefania Pellegrino will remain managing director of Purely while Mark O’Sullivan will stay on the Purely subsidiary board.
Chairman David Mitchell said: “We are delighted to have acquired our stake in Purely and we very much look forward to working with Stefania and her team.
“Stefania has achieved great results but together we believe we can grow faster and exploit opportunities more effectively in the healthy snacking space.”