PARAMOUNT, CALIF. — Plant-based foods maker Tattooed Chef, Inc. is further diversifying its product offerings with the announcement it has agreed to acquire Belmont Confections, Inc. for $18 million in cash and stock. Headquartered in Youngstown, Ohio, Belmont specializes in the development and manufacturing of snack and nutritional bars. The company operates a 47,000-square-foot facility in Youngstown.

Tattooed Chef said the acquisition will allow it to enter the $10 billion global plant-based bar category and aligns with its strategy to develop more ambient and refrigerated products. Tattooed Chef’s product portfolio currently includes ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls, and cauliflower pizza crusts.

“We are excited to announce the acquisition of Belmont and look forward to welcoming George Tsudis and his team to the Tattooed Chef family,” said Sam Galletti, president and chief executive officer of Tattooed Chef. “Belmont is exactly the type of company that we have talked about acquiring with regards to a company that adds both manufacturing capacity and capabilities. This acquisition will further allow us to control the supply chain for the brand and ensure that Tattooed Chef products are always available by controlling our own destiny. Belmont also accelerates Tattooed Chef’s expansion into ambient and refrigerated products in a new category. We believe this transaction will open up more sales channels, including convenience stores, vending, drug and dollar, and more. At full capacity, we believe the Belmont facility can contribute over $100 million annually in revenue in the next two to three years.”

Sarah Galletti, chief creative officer and “The Tattooed Chef,” added, “We see an opportunity to leverage our innovation expertise to bring great tasting, plant-based options to the bar sector. We believe we can create and bring new types of bars to the market, disrupting a category that is in need of more innovation and exciting product development. Consumers are searching for more convenient ways to eat better, and we believe Tattooed Chef branded plant-based bars will resonate with our consumer base.”