Eat Well Group completes acquisition of Sapientia
By Food in Canada StaffBusiness Operations Plant-based foods Eat Well Group
The consideration for the acquisition of Sapientia was the issuance of 3,741,969 common shares in the capital of Eat Well Group and a cash payment of USD6.52-million to the former shareholders of Sapientia, USD1-million of which was paid on July 31, 2021, and USD5.52-million was payable in installments up to July 8, 2022.
Eat Well Group’s food-technology investment is led by Dr. Eugenio Bortone, one of the world’s pre-eminent food scientists and extrusion processing experts, and the inventor of Frito-Lay’s Twisted Cheetos. Sapientia has created and filed four foundational patents revolving around the “Protein Twist” and crispy puff style snack. By focusing on the texture and crunch, Sapientia’s patents solve one of the major problems large-scale snack-food companies have struggled with for years – maintaining the texture and flavour, while offering a guilt free, baked not fried, natural and healthy alternative to most snack food products on the market today.
“Sapientia remains laser focused on growing the initial success of the protein curls in Federated Co-op by launching into new retailers with new flavours, formats, and long-term innovation,” said Marc Aneed, Eat Well Group’s president and CEO. “Additionally, we look forward to more innovation between Sapientia and Eat Well’s other portfolio investments at Belle Pulses and Amara.
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