Roasted chickpea snacks manufacturer The Good Bean has acquired Beanitos, the maker of bean-based chips and puffs, in an all-US deal.
According to The Good Bean, the combination of the brands will create a legume-based snacking portfolio with the scope and scale to reach conventional, mass, natural and niche consumers across the US.
The expanded portfolio includes ten The Good Bean products and 16 Beanitos snacks. Based in Texas, Beanitos’ range consists of Bean Chips, Baked Bean Crunch and Dippers.
“From the beginning, our mission has been to make bean and plant-based snacking accessible, delicious and affordable for everyone, while supporting responsible agriculture,” said Sarah Wallace, founder and CEO of The Good Bean.
“The Beanitos portfolio perfectly complements the whole-bean snacking focus that The Good Bean is known for, and combining these two brands structurally and operationally will enable us to streamline many processes throughout the supply chain to create efficiencies for our industry partners – and ultimately our consumers in the US and Canada.
“We’re fortunate to have investment partners who believe in our vision and are eager to amplify growth for both brands.”
Wallace, who was inspired by the roasted chickpeas she grew up eating in India, launched The Good Bean in 2010 having previously worked with companies such as Clif Bar, Kashi, ThinkThin and PopChips.
She will remain in her role as CEO to oversee growth, mission-based ingredient sourcing and channel acceleration for both brands.
As an earlier investor in Beanitos, 2x Partners will continue to counsel The Good Bean on strategy and brand growth.
“We are big supporters of Beanitos and this partnership marks the beginning of an exciting new chapter,” said Andy Whitman, managing partner at 2x Partners and board member for The Good Bean.
“The synergies between these two brands creates needed leadership in this space, as well as provides an ability to further accelerate growth while delivering best-in-class service to our partners and all snackers.”
© FoodBev Media Ltd 2020