Berkeley, CA — Roasted chickpea snack maker The Good Bean has acquired chips and puffs maker Beanitos LLC, creating the largest legume-based snacking portfolio in the U.S. with more than 26 items, the acquiring firm reports.
The deal was directed through investments from growth equity companies L Catterton Management Ltd. and 2x Consumer Products Growth Partners, along with industry partner to emerging brands BFY Capital Partners LLC, according to The Good Bean.
In addition to manufacturing legume snacks, both companies have a foundational commitment to source from U.S. farmers. Combined, The Good Bean and Beanitos procure more than five million pounds of legumes annually.
“From the beginning our mission has been to make bean and plant-based snacking accessible, delicious, and affordable for everyone, while supporting responsible agriculture,” says 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.”