Vancouver, BC and San Francisco, CA – January 17, 2022 – The Planting Hope Company (TSXV:MYLK), a plant-based food and beverage company focused on producing the world’s most nutritious and planet-friendly products, today announced the acquisition of the RightRice® brand and assets from Betterer Foods, Inc.
The acquisition of industry-leading alternative rice brand RightRice® will enable Planting Hope Company to drive scale, strategic growth opportunities and operating efficiencies across the company’s plant-based platform. It also expands the company’s product platform into the global rice category and broadens the company’s capabilities in nutrient-dense innovation and emerging category leadership.
“The RightRice® brand and products add another high potential line of breakthrough innovation to Planting Hope’s growing portfolio of plant-based, planet-friendly, highly-nutritious brands,” said Julia Stamberger CEO and Co-founder of Planting Hope. “RightRice® products are truly a differentiated grain alternative, balancing great flavor and compelling nutritional benefits in the form of rice, a grain that is familiar to billions of people on the planet. We believe the RightRice® products present meaningful innovation with strong growth potential globally.”
“I am very proud of what we created at RightRice® and would like to thank everyone involved in developing the RightRice® brand and product lines,” said Keith Belling, Founder and CEO of RightRice®. “We recognized the compelling synergies to be gained by combining our plant-based products with a company like Planting Hope that shares our commitment to category-leading innovation. We believe the Planting Hope team has the capabilities and vision to be a great steward for our brand and take RightRice® to the next level.”
Link to Press Release:
Aspect Consumer Partners acted as exclusive financial advisor to Betterer Foods in connection with the transaction. Terms of the transaction were not disclosed.