Plant&Co (VEGN) has closed its acquisition of a majority interest in LumberHeads Food Co.
LumberHeads is a boutique plant-based snack food manufacturer based in Ontario.
The company produces a handcrafted plant-based Kettle Corn snack food. Its products are peanut and nut-free, gluten-free, dairy-free and allergen-free.
“We are extremely pleased to close our LumberHeads Food Co. acquisition as an accretive, non-dilutive transaction. We are excited to bring LumberHeads into our portfolio and to accelerate LumberHeads’ growth. We are continuing to execute on the commitment made in September to execute on an organic and inorganic growth strategy; HolyCrap Cereals is growing double-digit, we will accelerate LumberHeads growth and we look forward to sharing additional progress as we continue to execute on our growth plans,” said Plant&Co CEO Shawn Moniz.
The snack food category in 2021 was valued at approximately $3.9 billion.
Plant&Co is down 6.9 percent, trading at $0.14 at 1:29 p.m. EST.