Canada-based organic cereal company Nature's Path has acquired 51% stake in US snack-maker Gorilly Goods for undisclosed sum.
Based in Jackson, Wisconsin, Gorilly Goods offers a range of savory to sweet organic and non-GMO nuts, fruits, seeds and greens combinations.
Nature’s Path said the acquisition represents its growth beyond new product innovation and development and adds to a list of previous acquisitions.
The deal is expected to offer the needed capital for Gorilly Goods to increase its production capacity.
It also allows Gorilly Goods to leverage Nature’s Path retail network to expand distribution throughout North America and markets around the world.
Nature’s Path co-CEO and co-founder Arran Stephens said: “Gorilly Goods delivers the type of tasty, organic and nutritious on-the-go snacks our consumers seek. Combined with our distribution and sales network, this addition to the Nature’s Path family will be a screaming success.”
Gorilly Goods introduced their business concept to Nature’s Path at its first venture funding event at Expo West 2016 called “Seed to Sprout.”
The presentation on business and growth opportunities given by Gorilly Goods resulted in the acquisition deal.
Stephens said: “We discovered Gorilly Goods through our first venture event at Expo West 2016, with everyone on the panel blown away by its taste and quality. I knew we had to be part of such a delicious and healthy organic snack food.”
The previous acquisitions made by Nature’s Path include Que Pasa organic and non-GMO tortilla chips and salsa in 2012 and Country Choice Organics in 2015.
In June last year, Nature’s Path Foods announced to invest in the Prairie Organic Grain Initiative (POGI), which works to help Canadian organic grain growers expand into international markets.
