Natural and organic food producer and distributor Stake Technology it to acquire fruit bar and snack maker Kettle Valley Fried Fruit for an undisclosed amount.
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Kettle Valley, which is privately held, operates two plants in Summerland, British Colombia, and is currently building a third pant in Washington State in the US, reported the Canadian Press.
As well as producing natural and organic fruit bars and other apple-based products sold under the Kettle Valley Real Fruit Snack and Frunola brands, the company also produces private-label products for customers in Canada, the UK and the US.
“We see a significant opportunity to grow our consumer products business in the natural and organic snack food sector and see Kettle Valley as an excellent addition to our consumer products group,” said Jeremy Kendall, chairman and CEO of Toronto-based Stake.
The deal is expected to be closed in April.
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