CHICAGO — The Fresh Factory, a manufacturer of plant-based and clean label brands, has reached an agreement to acquire Chicago-based Phyter Food, a maker of produce-forward, dessert-like refrigerated bars. Financial terms of the transaction were not disclosed.
Headquarter in Carol Stream, Ill., the Fresh Factory creates, manufactures and partners with emerging food and beverage brands. The company’s focus is on plant-based food made with fresh produce and recognizable ingredients. The pending acquisition of Phyter Food, with its focus on healthy snacks with fresh ingredients, “fits perfectly” with Fresh Factory’s strategy, the company said.
Phyter Food was founded in 2016 by Gloria Athanis, Chef David Choi Jr. and Jeff Adeszko. The company operates a facility 10 minutes from Fresh Factory. With the acquisition, Phyter Food said it expects to have access to more resources, and the Fresh Factory will increase its manufacturing capabilities and expand into the bar category.
“We are really excited about teaming up with Phyter,” said Bill Besenhofer, president and chief operating officer of the Fresh Factory. “Phyter will give us the ability to reach more customers in a food category that we have been looking to get into. This acquisition will help us to continue our expansion into all corners of the plant-based food space.”
Mr. Choi added, “This will only help further our mission to create delicious plant-based snacks that support a healthy lifestyle. We are confident that the Fresh Factory aligns perfectly with our founding principles. We look forward to continuing Phyter’s growth and development as part of this innovative company.”
The transaction is expected to close in July.