A newly-formed natural foods company, Wellness Natural, has bought nutritional snacking brand SimplyProtein from Simply Good Foods, for an undisclosed sum.
With headquarters in Toronto, Canada, Wellness Natural says creating premium products is its core focus. Michael Lines, who led the SimplyProtein brand in Canada, is responsible for creating the new company and has been appointed president and CEO.
Under his leadership, SimplyProtein plans to expand its presence throughout Canada, the US and beyond.
Since its establishment in 2002 in health foods stores throughout Toronto, SimplyProtein has since grown to become available in more than 50 retailers across Canada and the US.
With a variety of products marketed in Canada and a separate group of products in the US, SimplyProtein’s line of nutritional and low-sugar snacks include an assortment of bars, cookies, chips and crunchy bites, for both adults and children. Its range offers plant-based protein and nut-free options and are high in fibre, gluten free and Non-GMO Project Verified.
“I’ve had the pleasure of working on SimplyProtein throughout my tenure at Simply Good Foods, and developed a true passion for the brand and its positioning within the nutritional snacking space,” said Michael Lines, CEO of Wellness Natural.
He added: “With many of our products plant-based, SimplyProtein fills an essential consumer need, as it checks off all the boxes. With optimal protein, high fibre, low in calories and sugar with clean ingredients – it’s what consumers are looking for – while also being incredibly satisfying and delicious which is paramount. I’m eager to continue to grow the brand and excited for what the future holds for SimplyProtein.”
Last year, Simply Good Foods secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. There was no mention of the divestiture of SimplyProtein at the time.
© FoodBev Media Ltd 2020