Associated British Foods (ABF), the owner of the Ovaltine and Sugar Spoon brands, has acquired a 20% stake in cereal company Jordans. It is understood that the company will remain under the control of the Jordan family despite the sale.
ABF, which also owns budget high street retailer Primark, says the deal will help to develop the Jordans range, which includes cereals, muesli and snack bar brands, both in the UK and internationally.
ABF chief executive George Weston says: “This investment is an exciting development of our UK branded grocery business.”
He adds that Jordans is “well positioned” to benefit from growing consumer demand for natural ingredients and healthy eating.
Jordans, based in Biggleswade in Bedfordshire, reported sales of £81m for the year ending February 2006 and has three factories in the UK.