CANADA – Global Food and Ingredients Inc., a fast-growing, Canadian plant-based food and ingredients company, has acquired Your Fitness Dish Inc., to expand its presence in the alternative milk space.
Your Fitness Dish Inc. is a plant-based milk alternative and snack food company operating under the brand YoFiit.
YoFiit’s products include high-protein plant-based milk alternatives made with chickpeas, pea protein, and flax oil.
According to the company, its milk alternatives provide 10g of protein per serving and 1,000 mg of omega 3, while free of gums and sugars.
YoFiit whose products have a significant presence in Canada’s retail market also sells high-protein low-sugar snack bars and granola products made from plants.
In addition to its current product lineup, YoFiit is engaged in a research and development project.
With the support of its consortium members, including Protein Industries Canada, a project is underway to develop additional plant-based milk SKUs, plant-based yogurts, and plant-based egg replacements.
Following the acquisition, YoFiit’s founder, Marie Amazan, will continue as president of YoFiit and manage the brand’s products and business development within the GFI group.
“We are very pleased to accelerate our plans to expand into the high growth plant-based milk and snack food segments through this acquisition,” said David Hanna, GFI’s CEO.
“YoFiit has developed a loyal and engaged customer group in Canada due to the unique health proposition of its product offering and we look forward to implementing a US market launch in the next few months.”
Major US expansion in the pipeline
The acquisition comes as YoFiit plans major expansion plans into the US market and across Canada.
Its presence in the US is currently online based with products sold on Amazon and through the company’s website.
“We are excited to join GFI to accelerate these plans and use GFI’s platform to connect our plant-based ingredients needs right to the farm level,” Marie Amazan, YoFiit’s founder, said.
YoFiits acquisition and further expansion into the US is a boon for GFI as the US plant-based milk segment had annual sales of US$2.5bn in 2020, a 20% increase from the prior year, according to The Good Food Institute.
Plant-based yogurt represented a US$343m market in 2020, having grown 20% from the prior year and 68% over two years.
In addition, the emerging market for plant-based eggs had US$27m of sales in 2020, up 168% from the prior year.
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