Paramount, California-based Tattooed Chef Inc., a maker of plant-based foods, announced on Dec. 21, it completed the acquisition of Belmont Confections Inc., a private label co-manufacturer of snack bars, for approximately $18 million in cash and stock, subject to a customary adjustment based on working capital at closing.
Belmont specializes in the development and manufacturing of a variety of snack bars. The 47,000-square-foot facility in Youngstown, Ohio expands Tattooed Chef’s manufacturing capabilities into a new category and accelerates the company’s expansion into ambient and refrigerated products.
The company plans to launch new Tattooed Chef branded plant-based bars in 2022.
Tattooed Chef offers a broad portfolio of sustainably sourced plant-based foods. Tattooed Chef’s signature products include ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls and cauliflower pizza crusts, which are available in the frozen food sections of national retail food and club stores across the United States, as well as on Tattooed Chef’s e-commerce site.
Located in Youngstown, Ohio, Belmont Confections is a spinoff of a Pittsburgh-based family business. Specializing in the development and manufacturing of private label nutritional bars, Belmont has continued to grow since its creation in 2007.
For nearly 30 years, owner George Tsudis’s father, Spiro, worked for D.L. Clark Candy Co. in Pittsburgh, the former manufacturer of the Clark bar. Spiro Tsudis left Clark in 1985 to establish Penhurst Candy Co., which made candy under private labels for national distributors.
Belmont provides private label protein and health bars throughout the U.S. and beyond.
In other recent news, Tattooed Chef appointed Gaspare “Gasper” Guarrasi as its new chief operating officer. Click here to see the story.