Protein Bar Maker Prosnack Acquired by Naturally Splendid

Pitt Meadows, BC-based biotechnology and food products firm Naturally Splendid Enterprises Ltd. acquired Prosnack Natural Foods Inc., a North Vancouver company that produces all-natural protein bars, an Aug. 11 press release announced.

“Our new relationship with Prosnack and its founders, Alan Maddox and Jim Pratt, continues our strategy to gain market share in the ‘healthy food sector’ retail markets,” a statement by Naturally Splendid Chief Executive Officer Dave Eto said. “Not only will synergies benefit Naturally Splendid with enhanced and effective operating costs, leverage distribution, and innovative products, but Alan’s relationships with retailers and co-packers and his business acumen strengthens both companies’ Canadian and US marketing and branding capabilities.”

Prosnack manufactures all-natural protein bars and oatmeal products for North American markets. The firm’s Elevate Me brand is sold in Costco, Whole Foods, London Drugs, and a number of other prominent retail stores.

Naturally Splendid noted that Prosnack’s success is partially owed to its acumen in private labelling, with its Elevate Me brand and private labeling generating some CN$8 million in the past four years.

“This is an excellent opportunity for me to leverage my experience and contacts to combine distribution channels and move Elevate Me and products of Naturally Splendid to the next level – to be quicker and stronger throughout Canada, USA, and internationally. With the fine brands of Prosnack complimenting the family of high quality products at NSE, I am pleased to be a part of the Naturally Splendid family,” said Alan Maddox, a founder of Prosnack who is slated to become the executive vice president of sales and marketing for Naturally Splendid.

In the same release, Naturally Splendid also announced the purchase of iCream Capital Inc.

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