Canada-based organic food maker Nature‘s Path has acquired a 51% stake in Gorilly Goods, a manufacturer of organic raw snack products.
Gorilly Goods makes a range of savoury and sweet organic, non-GMO snacks, including nuts, fruits, seeds and greens combinations. Gorilly Goods pitched their business concept to Nature’s Path at the company’s first venture funding event at Expo West 2016, a trade show for the natural and organic food sector.
Privately-owned Nature’s Path is North America’s largest organic breakfast and snack food company. The group has been expanding by growing its offering through NPD as well as M&A. In 2012, the company acquired organic tortilla chip and salsa maker Que Pasa and in 2015 the group took control of Country Choice Organics.
Although terms of the deal were not disclosed, the companies said Nature’s Path involvement will provide the needed capital for Gorilly Goods to increase its manufacturing. They said Gorilly Goods would also be able to use Nature’s Path to expand distribution throughout North America as well as other markets around the world, the company 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,” Nature’s Path co-CEO and founder Arran Stephens.
Gorilly Goods headquarters will remain in Wisconsin. Co-founder and CEO Chris McDiarmid said: “We’re ecstatic to be part of such a well respected, trusted and successful organisation that has helped grow and shape the organic food industry.”