Verus acquires flavored nut butter company Eliot’s Nut Butters

Verus International, a US consumer packaged goods (CPG) company, said that it has acquired Eliot’s Nut Butters, a small batch, flavored nut butter company based in Portland, Oregon, for an undisclosed price.

Currently, Eliot’s Nut Butters has six products to offer, which consist of four peanut butters – Spicy Thai, Honey Chipotle, Classic Salted, and Espresso Nib, an Oregon Hazelnut Chocolate Spread, and an Everything Bagel Nut Butter.

Established in 2013, the flavored nut butter company is said to have a national presence in most US states. Its products are sold primarily in Whole Foods, Kroger, natural and specialty grocery, and online through Amazon and the company website.

Verus International said that it is acquiring Eliot’s Nut Butters at an early stage where the latter is looking to grow its distribution presence and roll out new products to reach more retail venues.

Verus acquires flavored nut butter company Eliot’s Nut Butters. Photo courtesy of Aline Ponce from Pixabay.

Anshu Bhatnagar – CEO of Verus International said: “This is a small, strategic acquisition where we are gaining an established product line, new customers, and expertise in online sales.

“Eliot’s is an outstanding, highly rated brand that can benefit from our growing distribution network, so we see the potential for some organic sales acceleration simply through wider distribution.

“We expect to tap into Eliot’s expertise in online sales, but we are also very excited about new products in development that we expect to open a greater number of retail doors. This acquisition provides us an entry point into some specialty and healthier food categories where we would like to expand in the future.”