Executives at US-based Cedar’s Foods have acquired local breakfast firm Brekki Overnight Oats for an undisclosed sum.
Carlsbad, California-based Brekki was founded in 2017 by Greg Peyser. It offers a line of ready-to-eat, nutritionally balanced oats, including a mixture of rolled oats, ancient grains, fruit and almond milk.
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Haverhill, Massachusetts-based Cedar’s Foods is a specialist in Mediterranean food, including hummus, tzatsiki and taboule.
Explaining the deal, Cedar’s points to the rising popularity of overnight oats. The global oatmeal market is expected to grow at a CAGR of 4.2% to US$14.08bn by 2027, according to data from Big Market Research cited by Cedar’s.
Chris Gaudette, chief financial officer of Cedar’s Foods, said: “Brekki is a superior product. Our executive team is here to lend our expertise in the CPG space to help propel the Brekki brand from a distribution and marketing standpoint.
“We’re looking forward to the opportunity to partner and help take Brekki to a new level and make it as much a part of the breakfast tradition as orange juice.”
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By GlobalDataBrekki founder Peyser said: “When we started Brekki our mission was simple: deliver a nutritionally balanced product that tastes great and is made of simple, plant-based ingredients.
“Our team will be able to tap the Cedar’s Foods’ executive team’s vast experience and expertise to ultimately get oats out of the pantry and put Brekki in more households. Collectively, we can take Brekki to a new level and make it a product that can satisfy consumers from breakfast to lunch to dinner to anytime in between.”
Following the acquisition, the company will remain operating as a separate venture, however, the manufacturing and co-packing of the product will take place at the Cedar’s Foods production facilities in Haverhill. Peyser will be staying on as a director of sales for Brekki.
Brekki is said to be currently “finalising a major partnership deal that will give the brand a significant national presence”.
It is planning to launch a new line of products next month.
