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Türkiye-based food conglomerate Eti Gida has agreed to acquire Trubar Inc., a Canadian maker of plant-based protein snacks, for 201 million Canadian dollars (approximately $142.7 million), aiming to expand its international portfolio and gain a foothold in North America’s health-focused snack market.
According to a statement from Trubar, the all-cash transaction is expected to deliver 1.64 Canadian dollars per common share, totaling 201 million Canadian dollars in consideration, sending the company’s shares listed on the TSX Venture Exchange up 59%.
A special shareholders meeting is expected in January 2026, with the transaction slated for completion in the first quarter of 2026, subject to customary court and shareholder approvals. Upon completion, Trubar’s shares will be delisted from the TSX Venture Exchange and will go private.
The company executives hailed the deal, stating that the transaction is set to advance Eti’s global growth strategy by anchoring its presence in the fast-growing segment of plant-based and functional foods. The acquisition will also give Eti a foothold in one of the world’s most dynamic consumer packaged goods (CPG) markets.
Trubar Executive Chairman Kingsley Ward called the deal "a significant milestone," adding that Eti’s decades-long success in scaling consumer brands makes it an ideal buyer. Trubar CEO Erica Groussman stated that Eti’s resources and experience will help accelerate the brand’s growth in North America and support its expansion into international markets.
Founded in 2018, Trubar, formerly known as Simply Better Brands Corp., is headquartered in Vancouver and has built a strong brand around its clean-label, plant-based protein bars, with a reported $49.2 million in revenue during the first nine months of 2025.
Eti Gida, founded in 1962 and headquartered in Eskisehir, Türkiye, is one of the country’s largest food producers. Best known for its biscuits and chocolates, the company operates nine production facilities, including one in Romania, and employs over 7,000 people. It manages 45 brands across 300 product lines.
According to the Istanbul Chamber of Industry, Eti led all Turkish food manufacturers by revenue in 2024, posting ₺55.18 billion (around $1.29 billion) in sales.
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