The food, snack and beverage corporation PepsiCo is acquiring yet another snack company, Health Warrior Inc.
Health Warrior's has a plant-based portfolio including chia bars, pumpkin seed bars, and superfood protein bars. The company has 12 flavors of health bars available but started offering two new products this year– protein mug muffins and the superfood protein powder.
These products will now be under PepsiCo's umbrella as part of the food and beverage giant's new emerging brands division.
Health Warrior was founded in 2010 by three college friends with the mission to provide the masses with plant-based snacks.
Their bars are now available at 12,000 retailers across the country, but Health Warrior agreed to make the deal with PepsiCo to grow the brand even more.
“The whole reason we started the company was to be able to provide more plant-based superfood options to more Americans,” said Shane Emmett, Health Warrior’s co-founder and CEO. “The ability to build a good consumer brand here and be part of the PepsiCo brand, that is something we are really super excited about with this deal."
Now the company will have the resources to expand rapidly.
“Now with the marketing resources and vast distribution network of PepsiCo behind Health Warrior, it is exceptionally well-positioned to reach its full potential,” said Ted Chandler, a former Health Warrior board member and a managing director of the venture capital firm NRV.
All of the 20 full-time employees will remain with Health Warrior Inc. under the acquisition deal.
PepsiCo has been on the look-out for more nutritious snacks, especially those that are plant-based considering the growth in this specific segment.
“Health Warrior is a nutrition-forward trailblazer that can provide great insight into high value categories and consumers while benefiting from our expertise and resources to bring plant-based nutrition to more people,” said Seth Kaufman, president of PepsiCo North America Nutrition.
Read more about the future of the plant-based company now that it will be a PepsiCo brand at "Richmond Times-Dispatch."
This deal proves that the plant-based snack market is on the rise. At the end of last year, we spoke to the CEO of Hippeas, a vegan snack foods company with products made from chickpeas about the consumer packaged goods industry and how healthy snacks are the future. Listen to the episode of The Barron Report below.