VANCOUVER, BC. – Private equity investor Rockshield Capital Corp. has completed the acquisition of two food companies and created a new business with expected revenues of approximately $60 million. The new company will compete in the plant-based ingredients and food categories.
The acquired businesses include Belle Pulses Ltd., a processor of green and yellow split peas, and Sapientia Technology LLC, a manufacturer of pulse-based snacks, meat alternatives and dairy alternatives. The new company will operate as a business unit of Rockshield Capital and is forecast to generate $60 million in sales in 2021, $15 million in gross profit and $9 million in EBITDA, according to the company.
In conjunction with the acquisitions, Marc Aneed has been named president and director of Rockshield Capital. Most recently, Mr. Aneed worked at Glanbia PLC as leader of that company’s Amazing Grass business. Prior to joining Glanbia, he worked at PepsiCo, Inc.
“The completion of these transactions and underlying strengths of each business coming together is a true differentiator in the plant-based industry,” Mr. Aneed said. “The trends for plant-based foods are only getting stronger, and we are well-positioned to rapidly scale and capture market share with the closing of these acquisitions and $60 million in revenue as our starting point.”