Prepared food firm Bakkavor Group has acquired Moorish, a UK humous brand distributed across several major supermarket outlets and independent retailers.
Founded in 2012 by Julie Waddell, Moorish's product range includes the award-winning smoked humous.
Andy Atherton, the managing director of Moorish, will remain in a consultancy role to support the transition of ownership, the company added.
Mike Edwards, CEO of Bakkavor Group plc, commented, “The high-quality, innovative Moorish products will be a great addition to our existing brands and will complement our existing dips business.
“The Moorish brand has so much more potential than just humous and we are excited about expanding it into other relevant Bakkavor categories in the future. We’d like to congratulate Julie, Andy, and the team on the great brand they have built and are looking forward to it growing further under our ownership.”
First-Quarter Performance
Bakkavor has upgraded its guidance for full-year adjusted operating profit to a range of £103 million - £108 million following a 3.2% increase in like-for-like revenue in the first quarter, driven predominantly by its performance in the UK.
The company witnessed consolidation in volumes during the quarter in the UK, supported by improved consumer confidence, innovation and service.
In the US, revenue declined in line with expectations, given the region’s focus on accelerating profit improvement.
Edwards commented, “Last year, we executed a dynamic plan to reset the business, and I am delighted that the momentum this has created across the group has underpinned our strong first-quarter performance.
“All three regions are making excellent progress against the group’s strategic priorities of rebuilding margins and reducing leverage, and, as a result, we are confident in delivering our increased guidance for 2024.”
