Freedom Foods seals deal for US expansion and snaps up sports nutrition firm
A major player in the functional health cereal, snacks and beverage space in Australia, Freedom Foods is also building markets in South East Asia and China.
AFT Holdings will manage back room services for the group, provide strategic guidance to the North America market, and collaborate on possible acquisitions.
The US outfit already has an investment with Atlantic Natural Foods which produces and markets the Loma Linda, Worthington, neat, Caroline’s and Kaffree Roma brands of shelf stable plant-based protein, meal solutions, vegan bakery solutions and beverage products.
Freedom Foods will hold the majority stake in the new venture.
Freedom Foods also recently acquired Aussie sports nutrition firm Power Foods, which owns the Vital Strength brand of nutrition powders and supplements.
The deal, set to be completed by May 1, was reportedly worth AUD$20 million (US$15.3 million), and will see Freedom Foods expanding its offerings into sports and adult nutrition market.
The company plans to market the Vital Strength range on its e-commerce platform in China.
At last week’s Natural Expo West freedom Foods unveiled its new new line of Barley+, which “introduces a new level of functional cereals and snacks that addresses health, nutrition, and taste.”
