Bel Group has acquired California-based Ingenuity Foods' Brainiac and Little Brainiac brands in an undisclosed deal announced 6 May. The brands market fruit snacks backed by claims about omega-3 and choline that support brain health and development as well as gut and immune health, according to Bel's statement.
The deal includes inventories but excludes factories and offices. Brainiac products are manufactured in the US and Canada. Ingenuity Foods reports triple-digit annual growth in syndicated retail sales, though other financial data remains undisclosed.
Peter McGuinness, the CEO of Bel's North America business since February, said the acquisition accelerates the company's position as a maker of portion-sized fruit, veggie, and dairy snacks for children and adults. Bel's North American portfolio already includes Babybel, The Laughing Cow, Boursin, Pom'Potes, and GoGo squeeZ. The US represents roughly one-third of Bel's total revenue and is its largest market.
Ingenuity Foods management will remain in place. CEO and co-founder Mark Brooks said Bel's focus on nutrition, innovation, and purpose-driven brands aligns with Ingenuity's vision. The acquisition comes as Bel invests to expand production capacity, having committed $200 million in March to double annual output at its South Dakota facility to 20,000 tonnes.