Bellingham Capital, the investment fund owned by Larry Goodman’s son Mark Goodman, has acquired Independent Irish Health Foods (IIHF).
IIHF, which was founded in 2008, is headquartered in Ballyvourney, Co. Cork.
The company offers over 10,000 different health food products to customer across the world. IIHF had a turnover of €25m in its last financial year and currently employs 89 people.
IIHF also owns the True Natural Goodness brand.
The day-to-day operations of the company are set to continue as normal, with IIHF co-founders Richard Wilkins and Henry Bartlett remaining with the business in consultancy positions.
The price paid for the health food firm was not disclosed.
Bellingham Capital was founded last year by Mark Goodman and is part of the Bellingham Group. The fund focuses on food investment.
In 2022, Bellingham Group companies have a combined turnover of €80m, with 230 employees across Ireland.
Last October, Bellingham Capital acquired National Organic Products Ltd, owner of the Bunalun brand.
“Our intention is to have a collaborative partnership with the team at IIHF and to continue to build upon the great work they have been doing, while also helping to further develop and expand the company in a positive way,” said Mr Goodman.
A statement from co-founders Richard Wilkins and Henry Bartlett said that the acquisition marked a positive step forward for the company.