Nutrition and energy bar contract manufacturer, Noble Foods Nutrition, has acquired the co-packing activities of Betty Lou’s.
Located in McMinnville, Oregon, Betty Lou’s manufactures products including energy bars, protein shakes, crackers and protein balls, under its own brand and others.
Montréal-based Noble Foods Nutrition aims through the acquisition to strengthen its foothold in North America.
Following the deal, co-packing activities will continue uninterrupted at the McMinnville facility.
Betty Lou’s branded products will be manufactured at a new facility located in McMinnville under the continued ownership of founder, Betty Lou Carrier.
“After 42 years, I have decided to sell the co-packing activities of Betty Lou’s to Noble Foods and focus our efforts on our private Betty Lou’s brand,” said Betty Lou Carrier.
“Noble Foods has been doing co-packing bars for more than 20 years with a high level of organisation, professionalism, and dedication to bar manufacturing.
“Our Betty Lou’s employees are like family and I’m happy to know that those joining the Noble Foods team will be taken care of, as that is very important to me.”
Lee Shulkin, president of Noble Foods, added: “We couldn’t have found a better complement to our base of customers and our present employees. Merging the two companies’ business philosophies and trajectories will significantly improve both enterprises and make the whole so much greater than the sum of its parts.”
In 2018, Canadian private equity firm Novacap acquired an interest in Noble Foods, with the reported intention of purchasing other bar contract manufacturers in North America.
“This acquisition marks the first transaction in our investment thesis and an excellent foothold for Noble Foods in both the US as well as the West Coast,” said Antoine Casimir, principal – industries at Novacap.
“We firmly believe that Noble Foods will become the preferred contract manufacturer in North America and we will continue to explore multiple acquisition and strategic opportunities to expand its current manufacturing capabilities and geographic reach.”
The financial terms of the transaction have not been disclosed.
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