Savencia Fromage & Dairy has announced the acquisition of Colorado-based Hope Foods, a maker of hummus and other plant-based dips.
The acquisition includes the Hope Foods' plant in Louisville, Colorado, where its hummus and nut dips are manufactured.
Savencia Acquires Hope Foods
Hope Foods was founded in Boulder, Colorado, over 10 years ago, first selling its hand-crafted hummus at the Boulder Farmer's Market.
Today, Hope Hummus is the #1 organic hummus in the United States.
Hope Foods uses state-of-the-art technology to retain freshness, peak flavour, and nutritional benefits.
Hope Foods' manufacturing facility has the ability to produce a wide range of plant-based products and both parties expressed confidence that the Hope brand has the power to extend into additional categories.
"Our core business remains cheese and dairy products, but we want to develop new offers in the plant-based category with taste differentiation and premium brands. Hope is a strategic fit for us to drive growth in premium natural food products," said Jean-Paul Torris, chief executive officer for Savencia Fromage & Dairy.
"Hope enlarges our brand's portfolio in the USA into fast-growing, 'better-for-you' products and provides an excellent opportunity to expand consumer options for great-tasting, plant-based products," Torris added.
Hope: 'A Mission-Driven Brand'
Robbie Rech, one of Hope's founders, said, "Hope has always stood for much more than just great-tasting products, it is a mission-driven brand.
"We're thrilled to be partnering this great brand with a company like Savencia, known throughout the world for some of the best-tasting products on the market. We believe this partnership represents a terrific opportunity to realize Hope's potential for leadership within the plant-based products space."