Next Proteins Inc. has sold its Detour protein bar brand to Forward Foods, a company formed by senior food industry executives, key managers from Next’s bar business and the New York private investment group Emigrant Capital.
Forward Foods CEO Patrick Muldoon said the new company would focus on further developing the Detour bar brand with the aim of gaining market share in the fast growing on-the-go nutrition sector. Financial details of the deal were not disclosed.
“We are thrilled by the Detour brand line-up of protein bars, as well as its unique proprietary manufacturing platform,” Muldoon said. “Our extensive resources will assure the highest industry level of product quality and taste, as well as enable us to constantly innovate utilising the technology and flexibility of our production facility to deliver the freshest and most functional bars in the market.”
Muldoon added that he believed Detour to be well positioned for accelerated growth because of its leadership in the health and fitness retail channel and its popularity in the convenience store sector.