Bellingham Capital acquires Independent Irish Health Foods

While 'Dry January' clearly affected sales, 'Veganuary' didn’t have the same impact this month. Despite nearly 38% of Irish households purchasing chilled or frozen plant-based products, sales fell 2.6% with shoppers spending €200,000 less compared to last year, Kantar reports

IIHF is a leading distributor and wholesaler of health foods and related products to over 1,000 customers across the island of Ireland and continental Europe



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11 October 2022

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Bellingham Capital (BellCap) has announced the acquisition of Independent Irish Health Foods (IIHF), owner of the True Natural Goodness brand.

IIHF is a leading distributor and wholesaler of health foods and related products to over 1,000 customers across the island of Ireland and continental Europe. The company, which is headquartered in Ballyvourney, Co. Cork, had a turnover of €25 million in FY21 and employs 89 people.

The day-to-day operations of IIHF will continue as normal and the company’s co-founders Richard Wilkins and Henry Bartlett will be remaining with the business to support it in consultancy roles.

Part of the Bellingham Group established by Mark Goodman and headquartered in Castlebellingham, Co. Louth, Bellingham Capital (BellCap) is a food investment fund founded in 2021.

The Bellingham Group operates across the farming, hospitality and retail food distribution sectors and its companies employ 230 people. Bellingham Group companies currently have a combined turnover of €80 million.

IIHF was founded in 2008 and today offers over 10,000 different health food products to its international customer base. This includes leading vegetarian, vegan, organic, free-from and fair-trade brands sourced from highly rated suppliers across the globe, many of which are unique to IIHF, allowing for a differentiated market offering. The company also offers its own range of products under the True Natural Goodness brand.

Mark Goodman, founder and CEO of Bellingham Capital said: “We are very pleased with this acquisition, our second in the healthy and sustainable food space. I would like to thank all the staff and customers of IIHF, who we look forward to working closely with in the coming months, and particularly the founders, Richard and Henry. 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.”

“This is a very exciting time and the acquisition of IIHF represents a positive step forward for the company,” said Richard Wilkins and Henry Bartlett, co-founders of Independent Irish Health Foods. “Bellingham Capital is the ideal partner for the business as it seeks to continue to build on its investments in the health foods sector. We look forward to working with Mark Goodman and his team as we look to position IIHF for further growth on both the Irish and international markets.”

In 2021, Bellingham Capital acquired National Organic Products Ltd, owner of the Bunalun brand.



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