Trubar to be acquired by Turkish food group ETİ Gıda in $142m deal

Candian plant-based snack company Trubar has entered into an agreement to be acquired by Turkish CPG company ETİ Gıda Sanayi ve Ticaret, for approximately CAD 201 million (approx. $142 million).

Trubar, established in Vancouver in 2019 by founder and CEO Erica Groussman, produces a range of plant-based protein snacks made with natural, clean label ingredients.

Through the deal, it will be purchased by an affiliate of ETİ Gıda, a privately held food and CPG business headquartered in Eskişehir, Turkey. ETİ Gıda will purchase all the outstanding common shares of Trubar, with each of the snack company’s shareholders receiving CAD 1.64 (approx. $1.16).

Kingsley Ward, Trubar’s executive chairman, commented: “This proposed acquisition represents a significant milestone for our company and delivers on our commitment to creating strong value for shareholders. ETİ Gıda is an ideal acquirer for Trubar at this stage in the brand's development, given ETİ Gıda's successful track record of scaling CPG brands over the last six decades.”

The deal is expected to be completed during the first quarter of 2026, subject to the required shareholder, court and other approvals and customary closing conditions. Following completion, Trubar’s common shares will be delisted from the TSX Venture Exchange.

Trubar founder and CEO Groussman added: “We are very excited about the proposed acquisition of Trubar by ETİ Gıda and beginning a new chapter in our journey. I am incredibly proud of what our team has accomplished in building a strong brand presence in the protein bar market.”

Groussman added that ETİ Gıda’s CPG experience and resources will help Trubar to advance its growth across North America and its expansion into international markets.