Travel Oregon Gives Feed the Mass $50,000 to Host a Family Friendly Food Event
Plus, a new restaurant in Vancouver pulls in talent from Nomad Las Vegas, and more news to start the day
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Travel Oregon Doles Out More Than $2 Million in Grants to Bolster Tourism
This week, Travel Oregon announced which city governments, organizations, nonprofits, and businesses would receive funds as a part of its Competitive & Recovery Grant Program. The grants were meant to “enhance and expand the visitor experience and prepare communities and visitors for COVID-19 safe travel,” according to the Travel Oregon website; grants went to organizations and cities hoping to restore trails, create outdoor dining and event spaces, and fund community events like drive-ins and parks. Nonprofit kitchen Feed the Mass and food festival Feast Portland received $50,000 to hold a “family-friendly, outdoor food event” at The Redd on Salmon Street; Prosper Portland received $20,000 for My Peop
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Transaction Expected to be Net Income (Loss) Accretive in 2022
Management to Host Prepared Remarks at 8:30 am ET Today
Laird Superfood, Inc. (NYSE:LSF) ( Laird Superfood or the Company ) today announced that on May 3, 2021 it entered into a definitive agreement to purchase all of the equity interests of fellow Central-Oregon based Picky Bars, LLC, innovators in the healthy snack industry focused on nutritionally balanced, real-food products to fuel performance, for a total purchase price of $12.0 million in cash and stock subject to a customary post-closing working capital adjustment. The transaction closed simultaneously with execution. The transaction represents an acquisition multiple of approximately 1.2x estimated 2022 revenue. Laird Superfood expects the transaction to be supportive of its path to an improving gross margin profile and accretive to the net income (loss) of Laird Superfood in 2022 and beyond. In 2021, the Company does not expect the transaction to hav
Laird Superfood of Sisters acquires Bend’s Picky Bars for $12 million
SISTERS, Ore. (KTVZ) One popular Central Oregon-based healthy food-maker Laird Superfood of Sisters is acquiring another Bend s Picky Bars for $12 million, the two companies announced Tuesday.
In a news release, Laird Superfood said it entered into a definitive agreement Monday to purchase all of the equity interests of fellow Central-Oregon based Picky Bars, LLC, innovators in the healthy snack industry focused on nutritionally balanced, real-food products to fuel performance, for $12 million in cash and stock, subject to a customary post-closing working capital adjustment.
The transaction closed simultaneously with execution. The transaction represents an acquisition multiple of approximately 1.2x estimated 2022 revenue, Laird said.
Dive Brief:
Plant-based manufacturer Laird Superfood acquired Picky Bars, a provider of energy bars and nutritionally enhanced oatmeal and granola, for $12 million in cash and stock.
Picky Bars, founded by professional athletes in 2010, specializes in clean-label products with a balanced protein, fat and carbohydrate content. Its offerings, which had previously been sold only direct to consumer, will be offered through Laird Superfood s omnichannel platform across the U.S.
The acquisition is Laird Superfood s first since going public in September. It also marks the company s expansion into product segments beyond its functional, beverage-focused portfolio, which includes coffees, coconut-based creamers, powdered drink mixes, coconut waters and dried fruit and nuts.
Laird Superfood, based in Sisters, acquires Picky Bars for $12 million
Posted May 04, 2021
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 gro