Jim Breen, the entrepreneur who moved his Way Better line of healthy snacks from New York to Minneapolis in 2013, has acquired the Canadian supplier that grows his sprouts.
The acquisition comes amid a growth spurt that will double employment to 30 and drive sales to near $25 million this year, Breen said.
The premium-priced chips, which feature a variety of vegetable seeds, have been well received by shoppers and are now sold at Whole Foods, Lunds, Kowalski's and 20,000 other stores across North America.
Breen, 48, said his company, Live Better Brands, acquired Canada-based BioEssential Botanicals, owned by a husband-wife team, and that he will pay about $3 million over five years. BioEssential, which will be renamed Live Better Sprouting Innovation, will continue to operate near Toronto.
Live Better had grown to be BioEssential's biggest customer.
"We are growing, and we need to protect our supply and distinguish ourselves from the competition and create the next generation of great products," said Breen, a food industry veteran.
Live Better is tapping into a trend among consumers who want to eat healthier snacks but aren't content to nibble solely on apple slices and carrots. They also are willing to pay more than the cost of mass-market chips, at prices that range to $3.50 for a 5½-ounce bag.
Breen attended high school and college in the Twin Cities and once worked here for Creamette. He worked for Hain Celestial Group in New York but left during a reorganization a few years ago.