UK-based coconut snacks brand Ape Snacks has been sold to a private investor and food brand owner, the name of which has not been revealed.
Ape Snacks was launched by Zack Nathan who said he started the business after noticing a potential lack of “appetising healthy snacks on the market’.
Nathan dropped out of university in order to launch the business and soon gained listings across major supermarkets and multiple retailers.
The Ape Snacks business produces a range of natural coconut based food products which are sold through Tesco, Ocado, Sainsbury’s Asda, Holland & Barrett, The Cooperative, Whole Foods Market, Boots, WHSmith and Planet Organic.
Before the sale, the company had started to expand its distribution into Europe and claims to have seen revenues grow by more than 600% in the last two years.
The transaction is expected to accelerate distribution of Ape’s products in the UK and overseas.
Nathan commented: “Ape has been a fantastic journey with incredibly rapid growth.”
Charles Lanceley, director at Alantra, the asset management firm which advised Ape Snacks on the deal, said: “Ape Snacks is a great example of a UK food brand that has responded to increasing consumer demand for healthy ingredients and, as a result, has grown rapidly over the last three years. We are delighted to have advised on the sale which will realise significant value for its founder and provide strong backing for the business as it grows.”
Following the sale, Nathan is set to focus on running a medical technology business full time.