US food company Sovos Brands has agreed to acquire producer of better-for-you pancake and waffle mixes, Birch Benders, as it looks to strengthen its presence in the breakfast and snacking categories.
Since its founding in 2011, Birch Benders has expanded its line-up beyond pancake and waffle mix to frozen toaster waffles, and microwaveable pancake and baking cups. Based in Colorado, the brand offers organic, plant-based, non-GMO, protein, paleo and keto alternatives. Today, it claims to be one of the largest independent brands in its categories.
The recent acquisition will expand Sovos Brands’ breakfast and snacking portfolio and is said to help meet the company’s ambitions to participate in more food occasions.
Following the transaction, Birch Benders will join three other brands under Sovos Brands’ ownership: Rao’s, a line of pasta sauces, soups, frozen entrées and dry pasta; Noosa Yoghurt; which joined in 2018; and Michael Angelo’s frozen entrées.
Since Sovos acquired these brands, the firm claims it has consistently delivered double-digit sales growth while expanding profit margins. By adding Birch Benders to its current line-up, Sovos’ annual retail sales will reportedly reach above $750 million.
“With its absolutely delicious products that deliver against healthy consumer lifestyles such as paleo and keto diets, Birch Benders is the perfect next addition to our growing portfolio of one-of-a-kind brands,” said Todd Lachman, president and CEO of Sovos Brands.
He added: “With our proven ability to transform brands by unleashing growth and deepening consumer affinity, we are thrilled to take Birch Benders to a new chapter of growth while diversifying Sovos Brands into new categories.”
Matt LaCasse, Birch Benders’ founder and CEO, said: “We are absolutely thrilled to be joining the Sovos Brands family. We believe the wealth of experience and resources of the team at Sovos will allow us to reach even more consumers with our delicious, innovative, easy-to-make offerings made with nutrient-rich, quality ingredients.”
The deal, which was made for an undisclosed sum, is expected to be completed by the end of October.
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