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.
Go deeper with GlobalData
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."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
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."
