Canada: Eat Beyond to acquire Mylk Brands

Eat Beyond Global, an investment issuer focused on innovative food tech as well as plant-based and alternative food products, has entered into a definitive agreement to acquire Mylk Brands owner of Banana Wave for C$11.5 million.

US-based, Banana Waves has a portfolio of five gluten-free, soy-free, and non-GMO beverages made from oats and real banana. All varieties have 90 calories or fewer and contain vitamin b, potassium, fiber, and protein.

Michael Aucoin, Eat Beyond’s chief executive officer, commented “We are delighted to be adding Mylk Brands and the Banana Wave brand to the roster of Eat Beyond portfolio companies. Banana Wave offers a truly unique consumer plant-based proposition combining truly great taste as well as nutrition. We believe that Banana Wave will be a pillar in the re-definition of food as the world migrates to an increasingly plant-based diet”.

Source: PR Newswire