Affinity Beverage to acquire Undone Chocolate in US
Affinity Beverage Group has agreed to acquire US-based speciality manufacturer Undone Chocolate.
Financial details of the acquisition have not been revealed by either company.
Established in 2014, Undone Chocolate offers vegan chocolate bars, cacao tea and drinking chocolate.
The company claims that that the cacao and other ingredients used in the products are 100% organic-certified, gluten and soy-free, and do not contain added fats or emulsifiers.
Undone Chocolate founder Adam Kavalier said: "We have worked extremely hard over the past few years to create our concept, develop a product and establish a regional brand that could potentially grow into a household name in the rapidly expanding organic chocolate market.
“Although we have achieved some modest success in a very short period of time, we feel that Affinity Beverage Group has the right platform and resources to take our vision to the next level."
Upon completion of the transaction, Kavalier will remain with the company as a managing member and continue to work with the company.
The chocolate products are distributed to local and national retailers, including Whole Foods Market, Mom's Organic Market, Yes Market and other outlets such as hotels, restaurants and speciality stores.
Affinity Beverage Group CEO Janon Costley said: “This partnership gives us an opportunity to add a synergistic product line that can be easily integrated into our existing platform while adding value not only to our bottom line but potentially to all of our existing portfolio products."