- Simply Better Brands has closed its acquisition of TRU Brands for $7,500,000 in shares paid to TRU Brands shareholders
- TRU Brands is a nationally recognized brand sold online and through major U.S. retailers
- Simply Better Brands is an omnichannel platform promoting healthy and active lifestyles
- Simply Better Brands Corp. (SBBC) opened trading at C$5.80 per share
Simply Better Brands (SBBC) has closed its acquisition of TRU Brands, a leading health and wellness brand specializing in nutritious snacks for women.
Founded in 2018 under the female-led parent company TRUWOMEN, TRU BRANDS has grown into a nationally recognized brand and is sold online and through major U.S. retailers, including Target, Costco, Whole Foods, and Fresh Thyme. Their line of dessert-inspired protein bars are made with plant-based ingredients such as cassava, cacao, and brown rice protein, and are certified vegan, gluten-free and kosher, as well as dairy and soy-free, non-GMO verified, and free of sugar alcohols.
“We are thrilled to welcome Tru Brands into the Simply Better Brands family. Their all-natural line of healthy snack offerings is a perfect fit for our holistic approach in the wellness space,” said the company’s CEO Kathy Casey.
“With a loyal customer base and a demonstrated ability to innovate, Tru Brands is a wonderful asset to Simply better Brands’ growing clean-label, plant-based portfolio. It fuels our mission to enable wellness authentically every day. With Tru Brands, we now add the food category to our growing portfolio of CBD wellness, petcare and skincare.”
Erica Groussman, the CEO and co-founder of Tru Brands added,
“Gone are the days of sacrificing taste and texture. TRUWOMEN’s TRUBARS have pioneered an entirely new snacking category coined indulgent nutrition. We’re beyond excited to join forces with Simply Better Brands, whose values and mission, to innovate and expand the plant-based wellness sphere, deeply align with ours.”
Under the terms of the acquisition, Simply Better Brands acquired 24,586,477 shares of common stock and satisfied certain outstanding indebtedness of Tru Brands for a purchase price of $7,500,000 paid in the form of Simply Better Brands shares to the shareholders and debtholders of Tru Brands.
Simply Better Brands is an omnichannel platform focused on the expansion of consumer product categories including CBD products, plant-based food and beverage, and the global pet care and skincare industries.
Simply Better Brands Corp. (SBBC) opened trading at C$5.80 per share.