The Fresh Factory, a plant-based food and drink contract manufacturer in the US, has acquired healthy snack bar business Phyter Food.
Illinois-based The Fresh Factory says it also “partners with emerging food and beverage brands” and has created a “vertically-integrated platform to accelerate the growth of new brands” in the plant-based arena. Consequently, it has purchased Phyter Food, a business jointly founded in 2016 by Gloria Athanis, chef David Choi Jr., and Jeff Adeszko.
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Financial terms for the deal, which is expected to close in July, have not been disclosed.
Phyter Food, also located in Illinois, produces a range of chilled organic snack bars such as a cocoa brownie, peanut butter cookies and carrot cake all made with 100% plant-based ingredients. They are free-from gluten, soy, dairy and GMOs.
"Phyter will give us the ability to reach more customers in a food category that we have been looking to get into," Bill Besenhofer, the president and COO of the Fresh Factory, said in a statement. "This acquisition will help us to continue our expansion into all corners of the plant-based food space."
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By GlobalDataPhyter's Choi added: "This will only help further our mission to create delicious plant-based snacks that support a healthy lifestyle. We look forward to continuing Phyter's growth and development as part of this innovative company."
