Organic chocolate bar maker Alter Eco Foods has been acquired by US investment group Trek One Capital.
The deal closed in December. Financial details have not been revealed.
Trek One takes the business over from private-equity group NextWorld Evergreen, Brian Fontana, operating partner and CFO at Trek One Capital told Just Food.
NextWorld Evergreen bought the confectionery producer in 2017.
Fontana said Trek One intended “to grow the business by expansion into new products and developing new retail channels”.
Alter Eco Foods’ headquarters moved from San Francisco in California to Houston in Texas, following the close of the deal, he added.
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No full-time employees have lost their jobs as result of the acquisition.
The company produces a range of organic chocolate snacks, including bars, flavoured truffles, truffle thins and chocolate covered nut butter balls. It also has a granola and quinoa line.
Alter Eco Foods sells into natural and organic retail channels across the US, including at Whole Foods Market, as well shipping to Canada, Australia and New Zealand.
The company has been B-Corp certified since 2009.
Commenting further on the deal, Fontana said: “We are excited to have an opportunity to invest in the leading premium organic dark chocolate brand of products in the U.S. and have identified significant opportunities to take the company to the next level.”
In a statement, Keith Bearden, CEO of Alter Eco Foods, added: “I look forward to my partnership with Trek One along with their support and commitment to take the Alter Eco premium brand of products to the next level.”
Bearden was appointed CEO of the company in 2022 and has a background in managing organic and natural food companies like Revolution Tea and Lifebrands Natural Food.
