PepsiCo acquires superfood snack producer Health Warrior
Pepsico has acquired superfood and plant-based snack producing startup Health Warrior for US $10 million. The company recently announced that it would invest more in healthy snacks and the latest acquisition confirms that the beverages & snacks giant is ready to change with changing consumer demand. Over the last couple of years, demand for organic and raw bars has jumped and majority of companies in this space are using superfoods. PepsiCo has acquired the company via its project PepsiCo HIVE.
HIVE is an incubator program supported by PepsiCo to help small startups grow into bigger brands. Health Warrior, Inc., is U.S.-based nutrition-forward company that makes plant-based products including nutrition bars and on-trend offerings. Health Warrior started operations in 2011 when Dan Gluck, Nick Morris and current Chief Executive Officer Shane Emmett came together to offer healthy bars, mainly inspired by superfood Chia seeds.
Talking about the latest move of PepsiCo, Al Carey, chief executive officer of PepsiCo North America said, “We're thrilled to welcome the innovative Health Warrior brand to the PepsiCo family. We continue to position ourselves at the forefront of changing consumer preferences and trends. This acquisition helps us increase our presence in the nutrition bar category, which is an attractive growth space.”
"This will enable us to continue building the Health Warrior brand at a deliberate and sustainable pace and to leverage its entrepreneurial expertise and talent to benefit our broader portfolio," said Seth Kaufman, president of PepsiCo North America Nutrition, who oversees The HIVE.
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