French dairy company Savencia Fromage & Dairy has announced its acquisition of Hope Foods, a US producer of hummus and other plant-based dips.
The transaction includes the Hope Foods plant in Louisville, Colorado, where the company manufactures its hummus and nut dips.
The Hope brand offers sweet and savoury cashew and almond dips, as well as hummus and guacamole, and both parties are said to be confident that it can extend into additional categories.
“Our core business remains cheese and dairy products, but we want to develop new offers in the plant-based category with taste differentiation and premium brands,” said Jean-Paul Torris, CEO of Savencia Fromage & Dairy.
“Hope is a strategic fit for us to drive growth in premium natural food products. Hope enlarges our brand’s portfolio in the USA into fast-growing, ‘better-for-you’ products and provides an excellent opportunity to expand consumer options for great-tasting, plant-based products.”
Robbie Rech, one of the founders of Hope, said: “We’re thrilled to be partnering this great brand with a company like Savencia, known throughout the world for some of the best-tasting products on the market. We believe this partnership represents a terrific opportunity to realise Hope’s potential for leadership within the plant-based products space.”
The financial terms of the transaction have not been disclosed.
© FoodBev Media Ltd 2022
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial