Two more acquisitions followed a large number of North American mergers and acquisitions involving organic & health groups taking over similar brands in 2015 and conventional food groups moving into organic & health.
And US food group Healthy Food Ingredients, L.L.C., the parent company of SK Food International and Hesco/Dakota Organic Products, has acquired Suntava Corp., a plant-based ingredients company known for its proprietary Suntava purple corn, a non-bioengineered/non-G.M.O. hybrid product.
Mainly conventional US food company Pinnacle’s move to acquire Boulder Brands will expand its presence in growing complementary health and wellness categories and in the natural and organic retail channel while providing Pinnacle with a new growth stage in refrigerated foods. The transaction will be completed in the first quarter of 2016.
Boulder Brands, headquartered in Boulder, Colorado, manufactures health and wellness brands, including Udi’s and Glutino gluten-free products, EVOL natural frozen meal offerings, Smart Balance and Earth Balance refrigerated and shelf-stable spreads businesses.
The Boulder Brands portfolio is sold in both traditional and natural and organic channels in the U.S., with a consumer base that skews younger than that of Pinnacle’s current portfolio average. Annual net sales of Boulder Brands were over $500 million in 2014.
Commenting on the announcement, Pinnacle Foods CEO Bob Gamgort said: “The acquisition of Boulder Brands further expands our health and wellness portfolio, currently anchored by the Birds Eye and Gardein brands. The acquisition provides us with an important health and wellness talent pool in Boulder, Colorado and we plan to retain Boulder’s existing headquarters location.”
Healthy Food Ingredients provides non-bioengineered, organic, gluten-free and identity-preserved ingredients to domestic and international customers in the food and pet food manufacturing and food service industries.
“H.F.I. is a quickly-growing company; however, we are purposeful in growing the H.F.I. The platform,” said H.F.I. CEO Brad Hover.
“Like our other brands, SK Food and Hesco, Suntava has a rich history within the food industry and is a natural fit for us. We are pleased to include them in the H.F.I. family.”
Suntava will operate as a division of Healthy Food Ingredients and continue to use the Suntava name.
Other recent M&A’s include: Toronto, Canada-based GreenSpace Brands, a supplier of premium natural food products’ acquisition of Canada organic firm Love Child (Brands) organic infant and children’s food brand; Canada’s SunOpta’s acquisition of the assets of Ontario’s Niagara Natural Fruit Snack Company and US conventional/organic frozen fruit supplier Sunrise Growers; and Canada’s Nature’s Path Foods acquisition of the US Country Choice Organic brand.