Bunalun owner National Organics has been sold for an undisclosed sum to Bellingham Capital.
The Bray-headquartered company recorded revenues of about €22 million in 2020 and employs 43 people. Its organic food products are stocked across Ireland and the company has further expanded into other markets including Britain, UAE and Australia.
Co-founder and managing director of National Organics Kieran Dunne will remain in his role.
“Having built a strong business in Ireland, we are now looking forward to the further development of the Bunalun customer base on international markets and are excited to work with BellCap in support of that objective,” Mr Dunne said.
It is the first investment for the fund, which was founded by former ABP Food Group executive Mark Goodman in 2021. It is focusing on investing in agribusiness, food industry and renewable projects across Ireland and Britain.
“BellCap was founded with the ambition to invest in sustainable market leading agricultural, food and renewables businesses across Ireland and the UK,” said Mr Goodman. “We are very proud that our first investment is to acquire one of Ireland’s leading retail food brands. Our objective now, is to work with the excellent team at National Organics to take the company on a journey of geographical expansion in 2022 and beyond.”