NEW YORK, NY / ACCESSWIRE / September 7, 2023 / TRxADE Health, Inc. (NASDAQ:MEDS), known for its pharmaceutical exchange platform, has recently merged with Superlatus, Inc., a leading food technology and distribution company. The combined entity has now announced a binding agreement to acquire The Urgent Company Inc. along with its portfolio of popular consumer brands Coolhaus, Brave Robot, Modern Kitchen, and California Performance Co. These brands are currently owned by Perfect Day, Inc.
This company expects the acquisition to significantly enhance its position in the development of sustainable and fair food products. The transaction should also enable the combined company to easily enter new markets and increase its market share. This is especially true because many of the acquired Superlatus brands are innovators in the industry.
Superlatus has announced plans to introduce a new type of snack called pulse-based twisted protein snacks through its Brave Robot brand. This innovation is made possible by the advanced food extrusion technology developed by Sapientia Technology, LLC, a subsidiary of Superlatus. Superlatus is committed to capitalizing on the synergies between its subsidiaries to drive growth, enhance competitiveness and generate returns. By combining the unique food technology of Dr. Gino Bortone with the distribution power of the Brave Robot brand, the company hopes to succeed in the snack food market, which is projected to grow to $736 billion by 2026.
"Over 100,000 schools and institutions serve school lunches to 29.6 million students daily. We know soft drinks and traditional chips are the most frequent items sold in vending machines at school," said Superlatus interim CEO Tim Alford. "By dominating and leading the better-for-you (BFY) snack category in the schools, colleges, and universities across the continental United States, we have the unique opportunity to grow rapidly as our products have a long shelf-life, no chemicals, and there are no freezing costs."
The pulse-based twisted protein snack addresses the problem of empty calories by offering a delicious and healthy snack alternative. Superlatus reports that compared to traditional snacks, this snack will have 25% fewer calories, over 300% more protein, 200% more fiber, 40% less fat, 67% less saturated fat and 20% less sodium for a price of less than $2.00 per bag. In fact, this snack is already being sold in 300 Federated Co-Operatives throughout Canada under different private labels. The Company plans to launch the Brave Robot snack line in the United States in early 2024.
This snack development speaks to the larger success of the M&A between Superlatus and TRxADE Health. "We are excited to welcome the Coolhaus, Brave Robot, Modern Kitchen and California Performance Co. brands to our portfolio of CPG assets," shared Superlatus interim CEO Tim Alford. "Together, our shared interest in the sustainable and equitable food sectors will, we believe, allow us to expand our market presence and pursue a number of new opportunities to grow our brands together."
The acquisition will contribute to the continued expansion of the acquired consumer brands' presence in retail stores. Currently, these brands' products are already available in over 6,000 stores nationwide, including popular outlets like Whole Foods, Thrive Market, Kroger, Costco, and numerous independent markets across the country.
Scott Powell, President, Skyline Corporate Communications Group, LLC
SOURCE: TRxADE HEALTH, Inc.