Eat Well Group to Acquire Majority Stake in Plant-Based Baby Food Company, Amara
Eat Well Investment Group Inc. announces its agreement to definitive terms to acquire a preferred equity position in PataFoods, Inc. dba Amara Organic Foods (“Amara”), a fast-growing North American plant-based baby food brand, with an option to acquire an additional 29% of the shares of Amara at a USD$100,000,000 valuation. Pursuant to the agreement signed October 27, 2021, closing is expected to occur on or about November 2, 2021, subject to the satisfaction of customary closing conditions.
Amara represents an integral component of Eat Well Group's strategic business plan, bolstering the Company's complete vertical integration strategy by focusing on top-tier and proven CPG products that consumers love. Amara's focus on improving infant nutrition through innovative organic products will help establish Eat Well Group as a leader in plant-based CPG products and offerings. Consumer decisions continue to drive disruption in the legacy dairy industry, and Jessica Sturzenegger and her team at Amara are at the forefront. Amara's leadership team are among the very best of purpose-driven pioneers who bring together plant-based innovation, brand passion, and operating drive,” stated, Marc Aneed, President, Eat Well Group. “Amara has proven an impressive ability to scale through retail distribution and eCommerce excellence, and the funding and industry expertise provided by the Eat Well Group will help accelerate Amara's growth as we head into calendar 2022.”
Amara's focus on improving infant nutrition through innovative organic products will help establish Eat Well Group as a leader in plant-based CPG products and offerings
About Amara
Amara is a food technology company that uses science and proprietary IP that locks in taste and texture to make healthy, organic, non-GMO, plant-based, convenient baby and children’s food possible for modern-day families. From baby food to toddler food and beyond, Amara is driven by the belief that setting kids on the right path from a young age will help them live better, feel better and think better for the rest of their lives.
Amara first disrupted the baby food market in 2017, supporting the demand from parents for fresh, nutrient-rich, low-sugar baby food that was minimally processed and shelf-stable. Amara's baby food is one of the most unique product lines that can deliver the benefits of fresh, with the convenience and scale of shelf-stable. The baby blend line is designed to mix with breast milk, formula, or water for a gentle transition to starting solids.
Amara's new snack line continues to deliver on the promise of fresh tastes and texture with no added sugar or long ingredient lists. Like their major snack line, the 100% organic whole fruit and vegetable blend baby meals use the natural properties available in the fruits and vegetables, without additives and concentrated sugars.
Amara is sold throughout major North American retailers, including Whole Foods, Costco, Amazon, and Walmart Canada.
Source: Business News Wire
