Bellingham Capital (BellCap) has announced the acquisition of National Organic 160 Products Limited (National Organics), owner of the award winning Bunalun brand. Headquartered in Bray, Co. Wicklow, Bunalun is Ireland’s largest and best-known organic food brand. National Organics achieved revenues of circa €22 million in 2020. Kieran Dunne, the company’s co-founder will continue in his role as Managing Director. The amount of the transaction is undisclosed.
Part of the Bellingham Group, BellCap is an investment fund founded by Mark Goodman in 2021. Its focus is to invest in the areas of agri-business, food industry & renewable projects across Ireland & the UK.
Founded in 1999, Bunalun, which employs 43 people, delivers a broad selection of award winning 100% organic food products across a range of product categories at affordable price points. Its products are stocked across Ireland and the company has further expanded into other markets including the UK, UAE and Australia. Bunalun has successfully capitalised on the growing demand for organic food in recent years, delivering products which are both rich in natural ingredients and grown sustainably to protect the land and environment.
Mark Goodman, said: “BellCap was founded with the ambition to invest in sustainable market leading agricultural, food and renewables businesses across Ireland and the UK. 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.”
Kieran Dunne, co-founder and Managing Director of National Organics 160 Products Limited, said: “Since 1999 it has been my absolute privilege to lead my colleagues whom are the driving force behind the growth of the company. 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.”
BellCap - Leadership Team
Mark Goodman is the founder & CEO of BellCap. He has over 15 years’ experience in the Agribusiness and Food Processing sectors where he worked as an executive with ABP Food Group.
Shane McMahon, CFO is a Chartered Accountant who worked in various roles with KPMG in Ireland and the USA, and more recently as Finance Manager with Spotless Group plc in Australia. Shane joined BellCap in 2021.
Brian O’Kelly has been appointed Chairman of BellCap. He was previously Co-Head of Investment Banking at Goodbody Stockbrokers prior to which he was Head of Corporate Finance. Brian is the Senior Independent Director at Irish Continental Group plc.
