The owner of Clipper tea is set for a massive payout after the sale of Whole Earth to KP Snacks led to a significant surge in profits.
Kallo Foods, which also owns Kallo and Mrs Crimbles, sold the brand in late 2024 for an undisclosed sum, as reported by .
According to new accounts, the group's pre-tax profit jumped from £6.9m to £71.6m in 2024 due to the deal.
As a result, the group will issue a £76m dividend to its owner, a consortium consisting of PAI Partners and Charles Jobson.
The Surrey-based business' dividend is up from £15m in 2023.
The accounts filed with Companies House also show Kallo Foods' turnover increased from £121.7m to £124.5m in 2024.
A statement from the board said: "Gross margins have risen from 24 per cent in 2023 to 26 per cent in 2024 following a focused strategy on core brand margins to cope with the continued widespread inflation pressures and product shortages."
"The directors expect future developments to include further topline growth and will continue to pursue strategies to ensure agility in response to ongoing supply chain challenges."
The brand was initially purchased by Fleming Family & Partners in 2007, and then again in 2012 by Royal Wessanen for approximately £50m before being acquired by its current owner.
Although the group's º£½ÇÊÓƵ head office is located in Surrey, Clipper operates its manufacturing site in Dorset.
