Fine food producer Verus International has announced the acquisition of nut butter company Eliot’s for an undisclosed sum.
Founded in 2013 in Portland, Oregon, Eliot’s is an award-winning small-batch, flavoured nut butter producer.
According to sources, this acquisition allows Verus International to “gain an established product line, new customers, and expertise in online sales” and “provide an entry point into some specialty and healthier food categories to expand in the future”.
Anshu Bhatnagar, CEO of Verus International, said: “Eliot’s is an outstanding, highly rated brand that can benefit from our growing distribution network, so we see the potential for some organic sales acceleration simply through wider distribution. We expect to tap into Eliot’s expertise in online sales, but we are also very excited about new products in development that we expect to open a greater number of retail doors”.
Sources: Globe Newswire