Gluten-free snack manufacturer Wholebake has acquired Bounce Foods for an undisclosed sum, rescuing the Surrey-based brand from administration.

Bounce Foods, the maker of cereal bars and protein energy balls, called in administrators at RSM Restructuring Advisory on 7 June, after it had struggled against mounting losses.

On the same day, Wholebake stepped in snatching the healthy snacking company as it looks to further support Bounce’s expansion as well as benefit from the synergies between the brands.

“The Bounce brand is an excellent strategic fit for Wholebake, bringing together one of the UK’s most recognisable healthy snack brands with the manufacturing and product development expertise of one of Europe’s leading manufacturers of healthy, gluten-free bars, balls and bites,” Bounce Foods stated.

The energy ball maker will fit into Wholebake’s branded business – Nine Brand Food – with future expansion plans yet to be revealed.

Meanwhile, Bounce Food said it will continue focusing on its core ball range, including its vegan and indulgent flavours.

Wholebake CEO Simon Faithfull said: “We are really excited about the acquisition of the Bounce brand. It is a unique stand-out product in an expanding market, offering great taste and balanced nutrition to consumers, and we will be looking to invest in marketing and sales to support its growth.”

The Bounce range is currently stocked in Waitrose, Tesco, Sainsbury’s, Asda and Holland & Barrett among others, as well as being available in cafes, delis and gyms.

Outside of the UK, the business launched in 2004 by husband and wife Andy and Paula Hannagan, is present in Australia, Canada and the US. 

At the end of 2017, Bounce engaged Spayne Lindsay to seek external investment to continue driving expansion as hefty marketing spend had seen it slump into losses.

At the close of Bounce’s 2017 financial year the company had net liabilities amounting to £1.9m