NVM Private Equity has made a £3.5m investment in tortilla chips maker It’s All Good (IAG) to help scale up its producing capacity and fund further development.
The company’s products include Pitta Chip snacks and newly created tortilla chip brand Manomasa, which has hit over 350 high-end independent retailers just nine months after launch.
NVM noted that the UK bagged snacks market was valued at £2.7bn and is expected to show further growth in the next five years.
NVM director Mauro Biagioni said, ““IAG is at the forefront of new product development in its sector. The management team are utilising their extensive experience of the snack industry to create fresh, innovative and trend-setting products.
“The business operates in a growing and robust market and has begun to secure new business with major grocery multiples.
“We are delighted to be given the opportunity to back an experienced and highly capable management team, with a Managing Director we have supported in the past. We are very impressed with what they have achieved so far.”
Last month NVM made a return of 3.6 times from the sale of hosted desktop and managed IT services company e-know.net to AIM-listed Nasstar for £13m.
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