Savencia acquires US plant-based company Hope

By Jim Cornall contact

- Last updated on GMT

Hope Foods produces hummus and plant-based dips. Pic: Getty Images/TheCrimsonMonkey
Hope Foods produces hummus and plant-based dips. Pic: Getty Images/TheCrimsonMonkey

Related tags: Dairy, M&A, acquisition

Savencia Fromage & Dairy has acquired Colorado-based Hope Foods, a brand of hummus and other plant-based dips.

The acquisition includes the Hope Foods’ plant in Louisville, CO, where its hummus and nut dips are manufactured.

Hope Foods was founded in Boulder, CO, more than 10 years ago, first selling its hand-crafted hummus at the Boulder Farmer’s Market.

Hope Foods’ manufacturing facility can produce a range of plant-based products and both parties expressed confidence the Hope brand has the power to extend into additional categories.

"Our core business remains cheese and dairy products, but we want to develop new offers in the plant-based category with taste differentiation and premium brands. Hope is a strategic fit for us to drive growth in premium natural food products,"​ said Jean-Paul Torris, CEO of Savencia Fromage & Dairy.

"Hope enlarges our brands portfolio in the USA into fast growing, 'better-for-you' products and provides an excellent opportunity to expand consumer options for great tasting, plant-based products.”

"Hope has always stood for much more than just great-tasting products, it is a mission driven brand,"​ said one of Hope’s founders, Robbie Rech.

"We're thrilled to be partnering this great brand with a company like Savencia, known throughout the world for some of the best-tasting products on the market. We believe this partnership represents a terrific opportunity to realize Hope’s potential for leadership within the plant-based products space.”

Related topics: Manufacturers

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