Sisters-based Laird Superfood has acquired Bend-based Picky Bars for approximately $12 million in cash and stock.
Laird Superfood has been growing its footprint in Central Oregon since it was founded by professional surfer Laid Hamilton and entrepreneur Paul Hodge in 2015. It currently occupies a more than 20,000 square foot space in Sisters and employs 115 people.
The plant-based food manufacturer raised $52 million in an initial public offering last fall, giving it an influx of working capital. That enabled the company to acquire Picky Bars.
“We’ve known the Picky Bars team for years and have always been impressed by their work,” Hamilton said in a statement. “For us, it’s about finding that authentic connection and passion for building delicious, better-for-you-food that everyone can enjoy, and we see that same drive within Picky Bars. Being able to work alongside them to grow together will make us stronger together.”
Picky Bars was founded by professional athletes Lauren Fleshman, Stephanie Bruce and Jesse Thomas in 2010. It makes nutritionally balanced energy bars, oatmeal and granola. As a part of Laird Superfood, Picky Bars will be able to expand distribution nationwide.
“We are so excited to join forces with Laird Superfood,” Thomas said in a statement. “By integrating with the Laird Superfood team we will accelerate our company goals, bring additional employment and living wages to our community, increase our distribution, and provide us with better access to responsible ingredient sourcing.”