Stryve Foods has acquired egg white protein chips company Quevos, according to a recent announcement by the air-dried meat snack producer’s CEO Joe Oblas. Details of the transaction were not disclosed.
Oblas noted how he first encountered Quevos and its cofounders, Nick Hamburger and Zack Schreier, at the Sweets & Snacks Expo a few years ago, and thought their egg white-based protein products are an “interesting and innovative disruption” to the chips and crackers category.
Quevos was launched in 2017 after the founding duo were looking for a low-carb snack, and were inspired by the crispy leftovers of an egg white omelette. The company’s secretly kept production process and a short list of natural ingredients, including pea protein, avocado oil and chia seeds, eventually won Quevos two separate deals from KIND Snacks’ and Camino Partners’ founder Daniel Lubetzky on Shark Tank, and Kraft Heinz’s previous incubator Springboard.
PitchBook showed Quevos raised $1.82 million in total funding as of January 2021 after seeing its annual revenue increase by 82%. Other investors include RCV Frontline, Consumer Ventures, and 1/1 Capital.
In an exclusive quote provide to me, Hamburger said: "Crazy to think it’s been over five years working on Quevos, and we couldn't be more thrilled to be able to sell the business after all the ups and downs, and hard work. [We] were also super excited to see where Joe and his team take the brand next, and to help them as they grow the company."
Stryve Foods, which went public through a SAPC deal in 2021 and currently posts an enterprise value of $26.88 million, didn’t immediately comment. This is a developing story.
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February 01, 2023 at 03:47AM
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Stryve Foods Acquires Shark Tank Protein Chips Company Quevos - Forbes
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