Reporting on mergers and acquisitions are all in a day’s work when covering the hustle and bustle of specialty foods. One of the more recent acquisitions that have passed through the newswire is The Good Bean’s acquisition of Beanitos, maker of chickpea chips and puffs. The acquisition was directed through 2x Consumer Products Growth Partners, a growth equity firm.
“From the beginning, our mission has been to make bean and plant-based snacking accessible, delicious, and affordable for everyone, while supporting responsible agriculture,” said Sarah Wallace, Founder and CEO of The Good Bean. “The Beanitos portfolio perfectly complements the whole-bean snacking focus that The Good Bean is known for, and combining these two brands structurally and operationally will enable us to streamline many processes throughout the supply chain to create efficiencies for our industry partners—and ultimately our consumers in the U.S. and Canada. We’re fortunate to have investment partners who believe in our vision and are eager to amplify growth for both brands.”
According to a press release, the expanded portfolio includes 10 The Good Bean SKUs and 16 Beanitos SKUs. Both brands bring a commitment to sourcing from U.S. farms. The hope is that, when combined, the two companies will have a positive impact on sustainable domestic agriculture.
As an earlier investor in the Beanitos brand, 2x Partners will continue to counsel The Good Bean on strategy and brand growth.
“We are big supporters of Beanitos and this partnership marks the beginning of an exciting new chapter,” said Andy Whitman, Managing Partner and Board Member for The Good Bean. “The synergies between these two brands creates needed leadership in this space, as well as provides an ability to further accelerate growth while delivering best-in-class service to our partners and all snackers.”
As we continue to cover the latest acquisitions, partnerships, and more, stick with Deli Market News.