TruFood Manufacturing acquires better-for-you snack player Simply Natural Foods
03 Aug 2020 --- Snack food contract manufacturer TruFood has acquired Simply Natural Foods (SNF) with the backing of AUA Private Equity Partners. The deal is expected to expand TruFood’s position in the nutrition bar and chocolate molded snacking segments, where SNF is a co-manufacturer for large and high-growth CPG companies as well as private label customers. Financial details of the transaction were not disclosed.
The acquisition bolsters TruFood's growth strategy as the company broadens its production capabilities and expands its position in high growth categories.
As part of the integration, Simply Natural Foods will operate as TruFood and will be led by TruFood's President, Ted Schouten, and CEO, Pete Tsudis. Abe Brach, President and CEO of Simply Natural Foods, will be departing in the coming weeks.
"This transaction represents a significant and exciting milestone for our company," says Schouten. "Simply Natural Foods has been a leader in the nutrition bar and confectionery manufacturing industry with a solid reputation for high-quality standards, continuous innovation, excellent management and great tasting products. We are excited to add the SNF team to our family and look forward to working together on advancing our shared growth plan with a focus on providing customers with a broad range of snack brands and products."
The acquisition of Simply Natural Foods complements the TruFood brand and expands its position in the growing nutritional bar and better-for-you chocolate molded snacking segment.
"The combination of TruFood and Simply Natural Foods allows us to leverage the success Simply Natural Foods has established in the better-for-you snacking segment and enables us to serve a larger customer base with a broader range of product offerings," adds Pete Tsudis, CEO of TruFood.
Edited by Gaynor Selby
