Plant-Based Snackmaker Chooses Acquisition Path, Shares Surge On News
As companies grow, they inevitably reach a crossroads. When acquisition offers begin to surface, leadership must decide whether to accept a buyout or continue building the business independently. There’s no universally correct answer, the decision comes down to timing, alignment with the right partner, and the opportunity at hand. Today, one dually listed micro-cap chose the acquisition route.
Shares of TRUBAR Inc. (TSX-Venture: TRBR)(OTCQX: TRBRF) are rallying on news that the company, known for its clean-label, plant-based protein snacks, has signed a definitive agreement to be acquired by 1564128 B.C. Unlimited Liability Company, an affiliate of leading Turkish consumer goods group ETİ Gıda. The deal, formalized on November 23, 2025, will see the purchaser acquire all outstanding TRUBAR common shares through a statutory plan of arrangement under B.C.’s Business Corporations Act. Shareholders will receive C$1.64 per share in cash, valuing the transaction at roughly C$201 million. This offer reflects a 64% premium over TRUBAR’s last closing price of $1.00 on the TSX Venture Exchange and a 102% premium compared to the 60-day volume-weighted average price.
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."
TRUBAR's Chief Executive Officer Erica 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. ETİ Gıda's deep CPG experience and resources will help us advance the growth of TRUBAR in North America and our expansion into international markets."
In mid-morning trading, shares of TRBR are up 58% at $1.58, while U.S. listed shares (TRBRF) are up 55.87% at $1.1101.
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