BERKELEY, CALIF. — The Good Bean, maker of roasted chickpea snacks, has acquired Beanitos, maker of better-for-you bean-based chips and puffs. The acquisition was directed through investments from L Catterton, 2x Consumer Products Growth Partners and BFY Capital. Financial terms of the transaction were not disclosed.
The combined companies now offer a portfolio of 10 The Good Bean s.k.u.s and 16 Beanitos s.k.u.s, making it the “largest legume-based snacking portfolio in the U.S.,” The Good Bean said. Additionally, both brands are committed to sustainably sourcing from U.S. farms, and their current combined annual procurement of sustainably grown and harvested legumes now exceeds five million lbs.
“From the beginning our mission has been to make bean and plant-based snacking accessible, delicious and affordable for everyone, while supporting responsible agriculture,” said Sarah Wallace, founder and chief executive officer of The Good Bean. “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 U.S. and Canada. We’re fortunate to have investment partners who believe in our vision and are eager to amplify growth for both brands.”
Founded in Austin, Texas, in 2010, Beanitos products are Non-GMO Project verified and certified gluten-free. Products include chips, Beanitos Baked Bean Crunch puffs and Beanitos Dippers tortilla chips.
The Good Bean, also founded in 2010, offers plant-based products including Crunchy Chickpeas, Chocolate-Covered Chickpeas and Crispy Fava Beans + Peas.