- PureK Holdings (PKAN) acquires TRUBAR nutrition brand for its plant-based wellness portfolio
- The company will now own and oversee TRU Brands, whose nutritious snacks for women are recognized across the U.S.
- PureK will pay US$7.5 million to acquire 100% of TRU Brands’ issued and outstanding shares
- PureK Holdings leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories
- PureK Holdings (PKAN) is down 0.59 per cent and is currently trading at C$6.70 per share
PureK Holdings (PKAN) has acquired the TRUBAR nutrition brand for its plant-based wellness portfolio.
PureK will pay US$7.5 million to acquire 100% of TRU Brands’ issued and outstanding shares. The company will satisfy the purchase price through the issuance of PureK common shares.
Founded in 2018 under the female-led parent company, TRUWOMEN, TRU Brands has grown into a nationally-recognized brand that’s sold online and through major U.S. retailers, including Target and Costco.
Their line of dessert-inspired protein bars are made with plant-based ingredients such as cassava, cacao, and brown rice protein, and are certified vegan, gluten-free and kosher, as well as dairy and soy-free, non-GMO verified, and free of sugar alcohols.
“We are thrilled to welcome TRU Brands into the PureK family. Their all-natural line of healthy snack offerings is a perfect fit for our holistic approach in the wellness space,” said PureK CEO Kathy Casey.
“Gone are the days of sacrificing taste and texture. TRUWOMEN’s TRUBARS have pioneered an entirely new snacking category coined indulgent nutrition,” added Erica Groussman, TRU Brands’ Co-Founder and CEO.
According to Grand View Research, the global personalized retail nutrition and wellness market was valued at US$ 1.6 billion in 2019 and is expected to register a CAGR of 8.5% from 2020 to 2027.
The parties entered into a letter of intent effective March 2, 2021 and will use commercially reasonable efforts to enter into a definitive agreement as soon as possible.
PureK Holdings leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories.
PureK Holdings (PKAN) is down 0.59 per cent and is currently trading at C$6.70 per share as of 3:08 pm EST.
