Innovative Bites takes over Bonds of London

UK-based American product supplier Innovative Bites has purchased Bonds of London in a multimillion pound deal, with an aim of becoming the nation’s leading confectionery supplier.

The combined turnover for both companies this year is expected to reach more than £50m, though the exact terms of the deal has not yet been disclosed.

Innovative Bites founder and owner Vishal Madhu said: "Bonds of London is one of the UK’s oldest and leading confectionery suppliers and its acquisition will significantly enhance the product offering and services to Innovative Bites customers."

Even after the acquisition is complete, the two companies will continue to operate from their respective headquarters, as well as retain the jobs of all 150 combined staff.

Bonds of London managing director Philip Courtenay-Luck said: "This is a move that strengthens both businesses and will allow us together to better serve our customers’ needs.

"Innovative Bites imported American products combined with Bonds traditional sweet brands and highly respected multiple own label supply service makes for a powerful combination."

Last year, Innovative Bites saw a turnover of £25m in sales and supplied its products to several supermarkets and discount chains across the UK and Europe.

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Image: Innovative Bites founder and owner Vishal Madhu. Photo: courtesy of Innovative Bites.