Laird Superfood to acquire sports nutrition company Picky Bars

Laird Superfood has finalised an agreement to purchase sports nutrition company Picky Bars in a cash and stock deal valued at $12m.

Founded in 2010 by professional athletes Jesse Thomas, Lauren Fleshman and Stephanie Bruce, Picky Bars develops wholesome snacks and breakfast products for athletes.

Headquartered in Bend, Oregon, the company’s product portfolio includes the namesake Picky Bar, as well as performance oatmeal, granola, pancakes, and a nut butter topping called Drizzle.

Picky Bars also has a direct-to-consumer platform that includes the Picky Club, a monthly subscription box and a loyalty programme.

Laird Superfood CEO Paul Hodge said: “We are so excited to welcome Picky Bars into the Laird family.

“This is an exceptional foundation to build on the many synergies we anticipate from this acquisition, starting with the immediate expansion of our brand platform in the massive Bars and Snacks category, where we believe consumers are increasingly ‘picky’ and seek whole food, healthier bar choices as well as sustainable options.”

Laird Superfood said that the transaction closed simultaneously with execution.

The deal is expected to enhance Laird Superfood’s presence in the healthy snack category.

A producer of plant-based packaged beverages, Laird Superfood secured $10m in funding from Danone Manifesto Ventures (DMV) in April 2020 to support its growth initiatives.

The funding supports Laird Superfood to further increase its offerings portfolio, as well as expand its manufacturing campus in Sisters, Oregon.

Laird Superfood went public last year on NYSE.

Picky Bars will now be able to leverage Laird Superfood’s omnichannel platform, which could expand its distribution across the US.