EMBEKE, BELGIUM — Lotus Bakeries has reached an agreement to acquire most of the remaining stake in Natural Balance Foods (NBF), a British company that offers fruit and nut bars sold under the Nakd and Trek brands.
As part of the transaction, Lotus said it acquired the majority of the NBF’s founders’ (brothers Jamie and Greg Combs) remaining stake, giving Lotus 97.9% ownership. The Combs will continue to own 2.1% of NBF and remain on the company’s board as advisers, Lotus said.
The Combs brothers founded NBF in 2004, and in 2015 they partnered with Lotus when Lotus acquired 67.2% of the company’s shares. Over the next five years the companies worked together to expand NBF in the United Kingdom and internationally.
“In 2015, Natural Balance Foods and Lotus Bakeries joined forces to help advance ‘The Wholefood Revolution,’” the Combs brothers said. “That long-term strategic alliance has been wonderfully successful and happily continues. The NBF/Lotus teams are world-class, dedicated, motivated and more than ready to lead. Our team, products, brands and systems have never been stronger.”
Based in Belgium, Lotus Bakeries has production facilities in Belgium, The Netherlands, France, Sweden and the United States, and 21 sales organizations in Europe, America and Asia.