Beanitos bean-based snack provider acquired by The Good Bean

US-based roasted chickpea-based snack producer The Good Bean has acquired chips and puffs maker Beanitos, based in Texas, US.

Neither company has divulged any financial details.

Beanitos’ snacks include bean chips, Baked Bean Crunch and Dippers. Their products are available in a variety of flavours and contain protein, fibre and antioxidants.

The Good Bean founder and CEO Sarah Wallace said: “From the beginning, our mission has been to make bean and plant-based snacking accessible, delicious, and affordable for everyone while supporting responsible agriculture.

“The Beanitos portfolio perfectly complements the whole-bean snacking focus that The Good Bean is known for, and combining these two brands structurally and operationally will enable us to streamline many processes throughout the supply chain to create efficiencies for our industry partners, and ultimately our consumers in the US and Canada.”

Equity firm L Catterton, 2x Consumer Products Growth Partners and BFY Capital funded the acquisition.

The Good Bean expects this acquisition to improve its legume-based snacking portfolio in the US.

Its total assets now include ten stock-keeping units (SKU) that already belonging to The Good Bean and a further 16 SKU’s from Beanitos.

2x Partners, which has invested in Beanitos in the past, will continue to counsel The Good Bean on strategy and brand growth.

2x Partners managing partner and The Good Bean board member Andy Whitman said: “We are big supporters of Beanitos and this partnership marks the beginning of an exciting new chapter.

“The synergies between these two brands create needed leadership in this space, as well as provides an ability to further accelerate growth while delivering best-in-class service to our partners and all snackers.”