Canadian plant-based food company Modern Meat has bought a number of healthy, vegan snack brands from JDW Distributors for a total purchase price of $450,000.
The acquisition marks Modern Meat’s first step as part of its US expansion and the company says the deal will include a robust sales and distribution network.
Based in California, JDW sells healthy, gourmet foods including its own line of vegan brands such as Snacks from the Sun and Sunsations throughout the US and Canada.
As part of the deal, Modern Meat has taken ownership of the trademarks and distribution rights to the Snacks from the Sun and Sunsations brands.
The Snacks from the Sun brand includes popped potato crisps and sunflower chips, which are vegan and gluten-free. The brand first launched in 2019 and is sold in over 5,000 retail stores throughout the US and Canada.
Meanwhile, Sunsation Fruit Jellies are made with soft pectin instead of gelatin. The vegan sweets are also kosher and free of gluten, fat and peanuts, and can be found in 2,500 stores across the US and Canada.
“We are pleased to be closing the acquisition of JDW Distributors and onboarding their amazing brands and staff,” said Modern Meat CEO, Tara Haddad.
She added: “With our new foothold in the US market our company will swiftly begin our growth to the US. We are extremely excited about the upcoming growth soon to come from our company.”
Following the transaction, Modern Meat will continue to work with JDW and its team, including food scientists, to support manufacturing, distribution and future R&D developments.
© FoodBev Media Ltd 2020