Terms of the agreement were not disclosed.
Hope Foods was founded in Boulder in 2010, selling its hand-crafted hummus at the Boulder County Farmers Market.
The company’s Louisville manufacturing facility “has the ability to produce a wide range of plant-based products, and both parties expressed confidence that the Hope brand has the power to extend into additional categories,” the companies said in a press release.
“Our core business remains cheese and dairy products, but we want to develop new offers in the plant-based category with taste differentiation and premium brands. Hope is a strategic fit for us to drive growth in premium natural food products” Jean-Paul Torris, CEO of Savencia Fromage & Dairy, said in a statement. “Hope enlarges our brands portfolio in the USA into fast growing, ‘better-for-you’ products and provides an excellent opportunity to expand consumer options for great tasting, plant-based products.”
Robbie Rech, one of Hope’s founders, said, “Hope has always stood for much more than just great-tasting products; it is a mission-driven brand. We’re thrilled to be partnering this great brand with a company like Savencia, known throughout the world for some of the best-tasting products on the market. We believe this partnership represents a terrific opportunity to realize Hope’s potential for leadership within the plant-based products space.”
Hope Foods in September 2020 announced expansion of its market into Amazon Fresh, a grocery-service subsidiary of Amazon.com Inc.
The press release on the sale to Savencia said the acquisition “includes the Hope Foods’ plant in Louisville where its hummus and nut dips are manufactured.”
Hope Foods sold its facility at 1850 Dogwood St. in Louisville’s Colorado Tech Center to California-based Adler Realty Investments for $7.4 million in 2017 but leased back the space.
Company officials could not be reached in off hours to clarify the status of the real estate.