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November 11, 2020

US ice-cream firm Crave Better Foods buys Solero fruit bars assets

Crave Better Foods has acquired a brand in its domestic market as part of the US ice-cream products supplier's belief consumers want "strong brands made with elevated ingredients".

By Dean Best

Crave Better Foods has acquired Solero organic fruit bars from Iris Brands, a deal that forms part of the US ice-cream products supplier’s belief consumers want “strong brands made with elevated ingredients”.

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  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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In a statement, Connecticut-based Crave Better Foods, the privately-owned business behind The Original Chipwich ice-cream sandwiches, told just-food the company had “acquired all the assets/business associated with the Solero brand and future innovation in the ice-cream category”.

Solero was launched in 2017 by Josh Hochschuler and Steve Gill, the founders of Talenti Gelato & Sorbetto, the US ice-cream business sold to Unilever in 2014.

Crave Better Foods said Hochschuler and Gill “wished to retain Iris Brands for reasons unrelated to the deal.  As is typical in these types of transactions, we acquired the operating assets of the business, no liabilities”.

Financial terms were not disclosed. 

just-food has approached Hochschuler for comment.

David Clarke, the co-founder CEO of Crave Better Foods, said: “When we started Crave and relaunched Chipwich, our premise was there would always be consumer demand for strong brands made with elevated ingredients. Solero is a perfect example.”

Former DeMet’s Candy Company and Pladis executive Clarke set up Crave Better Foods in 2017 and relaunched Chipwich a year later. Production of Chipwich was stopped in 2011 by previous owner Nestlé.

In a statement, Hochschuler said: “It is with great enthusiasm and optimism that we now become part of the Crave Better Foods Family. “Solero is a young, innovative organic fruit bar brand that will now benefit from a great deal of synergies with a classic, the Original Chipwich. We look forward to joining forces and providing consumers with a best-in-class, delicious frozen treat.”

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Free Report
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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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