The British Columbia corporation being acquired owns Fresh Start Beverage Company which trades as Banana Wave
Banana wave

Vancouver-based Eat Beyond Global Holdings, an investment issuer focused on the global plant-based and alternative protein sector, is acquiring Mylk Brands, a British Columbia corporation which owns Fresh Start Beverage Company which trades as Banana Wave for approximately C$11.5 million (US$9.1 million) in common shares of Eat Beyond at a deemed price of C$0.52.           

Boca Raton, Florida-based Banana Wave’s beverages are made from fibre-rich oats and real bananas. They are available in five different flavours: original, unsweetened original, mango, chocolate, and strawberry. All varieties are gluten-free, soy-free, and non-GMO with 90 calories or fewer, and contain vitamin B, potassium, fibre and protein.

Michael Aucoin, Eat Beyond’s chief executive, said: “Banana Wave offers a truly unique consumer plant-based proposition combining truly great taste as well as nutrition. We believe that Banana Wave will be a pillar in the redefinition of food as the world migrates to an increasingly plant-based diet.”

Steve Gelerman, Mylk’s chief executive, added: “We are delighted to be able to partner with the Eat Beyond team to help accelerate and unlock the true potential of Banana Wave. We have had tremendous early success and momentum in building the brand and with the financial resources and advisory capabilities of Eat Beyond, we intend to make Banana Wave a true market leader.

Date published: 25 January 2022

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