US snack maker Rind Snacks has snapped up local granola company Small Batch Organics.
The deal, Rind’s first acquisition, will “drive significant margin growth and operating efficiencies through vertical integration”, the company said.
New York-headquartered Rind Snacks was launched in 2018. The company says its goal is to minimise waste by making “upcycled fruit snacks”. It manufactures fruit-and nut-based products under the Rind brand name.
Financial details were not disclosed.
In the wake of the acquisition, Vermont-based Small Batch Organics will see its products rebranded to Rind during 2024.
In a statement, Rind said the purchase is a “major milestone in [its] evolution from a leading dried fruit brand into a vertically-integrated healthy snack platform”.
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The company said the combined business would sell into around 12,000 retail stores “and is slated to generate over $25m in retail sales by year’s end”.
Rind CEO Matt Weiss said: “The addition of Small Batch and its dedicated team enhances our ability to craft premium, healthy and innovative snacks for more customers in a flexible and highly scalable manner.”
Lindsay Martin, the founder of Small Batch Organics, will oversee production and new product development for the combined business.
Martin said: “Rind and Small Batch share a special kinship that makes this outcome such a natural fit. Our products and values are highly complementary.”
The expanded Rind product range will include “several collaborative innovations” between the two companies, Rind said.
The first joint product, Rind Cherry Cashew Crunch, includes upcycled cherries, cashews and vanilla granola clusters. Retailers including Walmart and Wegman’s will stock the snack.
