Northern Ireland's SHS shells for peanut business

SHS Group, one of Northern Ireland's biggest companies and the owner of brands such as Shloer and WKD, has diversified into the growing peanut butter market.

The Belfast-based company, one of the UK and Ireland's leading food distributors, has bought a majority shareholding in 3V Group, business which owns Meridian, the owner of a range of nut butters that are distributed across the UK and Ireland, and Rocks, an organic squash brand, for an undisclosed sum.

SHS Group chief executive Elaine Birchall said the acquisition of Hampshire-based 3V Group will complement the company's extensive range of products.

She added: "The acquisition of Meridian and Rocks strengthens our owned-brand portfolio and manufacturing capability as we continue to invest in bringing high quality brands to a wide range of channels and geographies.

"We are delighted to have acquired this dynamic business and look forward to working with the management team in driving growth in established and new markets."

As well as Shloer and WKD, SHS Group owns Bottlegreen cordials, Merrydown Cider, Maguire and Paterson matches as well as its own label herbs and spices in the UK. It also distributes over 100 brands in the UK and Republic of Ireland.

Russell Smart, commercial director, 3V Group added: "The team at 3V have worked incredibly hard to bring innovative and relevant product development to the market in response to changes in consumer demand over the last 12 years.

"The SHS Group, with its depth of expertise in FMCG brands, will help support our growth strategy and market reach in the UK and beyond."