Smart Organic, a European producer and distributor of organic plant-based food products, has acquired UK vegan chocolate brand LoveRaw out of administration.
LoveRaw was established in 2013 by Manav and Rimi Thapar, offering a range of dairy-free chocolate products that contain no palm oil or artificial ingredients.
Its flagship offerings include the LoveRaw Cre&m Wafer Bars, LoveRaw Peanut Butter Cups and LoveRaw Nutty Choc Balls, available in major retailers including Tesco, Asda, Waitrose, Ocado, Co-op and Whole Foods Market.
Despite its rapid growth, which saw the company generate revenues of £3 million and secure listings at 13,000 retail outlets across 25 countries, LoveRaw entered administration on 16 April 2025. This followed a number of investment and supplier challenges, leading to operational disruption and revenue decline.
Through an accelerated M&A process, Smart Organic’s Bett’r Food subsidiary acquired LoveRaw’s brand and business assets, marking a key milestone for the business as it aims to ‘set new standards’ in plant-based confectionery.
Smart Organic, founded in 2009 in Sofia, Bulgaria, offers a portfolio of over 1,300 products across its brands including Bett’r, Naughty Nuts, Roobar, Dragon Superfoods and Kookie Cat. With a presence in over 60 countries, it is listed on the Bulgarian Stock Exchange with a current market capitalisation of over €150 million.
Following the deal, Smart Organic is integrating LoveRaw’s production into its new facility in Bozhurishte, Bulgaria, leveraging its existing infrastructure to enhance efficiency and product innovation.
The integration is expected to enable the expansion of LoveRaw’s product portfolio and its entry into new markets. Smart Organic said it aims to achieve medium-term revenues of £6-9 million from LoveRaw-branded products, alongside additional income from private labels in the region.
Yani Dragov, CEO of Smart Organic, said: “This acquisition aligns perfectly with our vision to offer delicious, health-conscious products that meet the evolving needs of consumers. LoveRaw’s innovative approach and strong brand identity complement our existing portfolio, and we are excited to support its growth and expansion in the UK and beyond.”
Jimmy Saunders, who was appointed joint administrator of LoveRaw alongside Mike Lennon, commented: “Whilst the vegan food space continues to be competitive, we expect the LoveRaw brand and products to be a great success with the investment and in-house manufacturing capabilities which the Smart Organics Group brings”.
