Biscuit and confectionery specialist Right Angle has been bought for a seven figure sum.
The Pocklington-based firm, which supplies nearly every major multiple and discount retailer in the UK, sells both branded and private label products.
The business, founded by Steve and Hilary Angle, has been acquired by fellow director John Haken in a deal that will involve a structured handover over the next five years. The £15m turnover business has a track record in supplying high quality, value-for-money biscuits.
Mr Haken said: “Steve and Hilary have established a highly reputable stable of brands, developed specifically for this sector, and has created a fantastic foundation from which to grow the business in the coming years.”
The firm sells over five million tins of biscuits a year, including the UK’s leading value shortbread, Highland Speciality. Other ranges include chocolate biscuits, Italian Amarettini and Cantuccini biscuits. It also has an exclusive licence with the Bank of England to manufacture novelty chocolate coins and bank notes.
Jonathan Simms, partner at Clarion, which provided legal advice, said: “Right Angle is, quietly, a very successful Yorkshire business whose products are sold in just about every retailer. Their brands are growing in reputation and sales, and their experience in niche and seasonal products gives them huge opportunity to continue to grow the business with a new owner but with the continued involvement of the founder, which is an ideal scenario.”