Clearly Canadian acquires organic snack company
February 07, 2007
by FoodBusinessNews.net Staff
VANCOUVER, B.C. — Clearly Canadian Beverage Corp. has acquired DMR Food Corp., a seller of organic and natural snack foods in Eastern Canada. Operating under the name Sweet Selections, the company packages and markets organic and natural dried fruit and nut snack foods.
Brent Lokash, president of Clearly Canadian, said the acquisition should help the company further establish itself as a provider of healthy, good-for-you products.
"We see great upside in Sweet Selection’s business over the next several years as retailers are placing a major emphasis on organic and natural products," Mr. Lokash said. "With a growth rate of over 25% per year and a strong presence in Canada’s largest grocery chains, Sweet Selections is an ideal complement to Clearly Canadian’s brand recognition and established presence in the beverage sector. This combination creates a host of opportunities to penetrate our key markets and fulfills our stated objective to enter into the complementary snack food market.
"Our model for growth into the organic and natural foods market is to emulate what Pepsi/Frito Lay has done so well over the years in connecting beverages and snack food. We believe the combination of these two companies will provide a host of strategic opportunities to penetrate this exploding market and create value for our shareholders."
The company believes the acquisition will nearly double top-line growth, Mr. Lokash said.