San Francisco-based single-origin chocolate company Alter Eco have been acquired by NextWorld Evergreen, a private equity firm, for an undisclosed fee.
Alter Eco founders have said that the deal in question could significantly help the company boost up their business growth from their current 35% figure, to a 70% figure year-over-year. In addition, they want to hit the $100m annual sales mark in the next half a decade.
Back in 2005, the company was started off by Edouard Rollet and Mathieu Senard of France, which was primarily based on their existing network of farmers, the majority of which hailed from South America.
Currently, Alter Eco manufacture a variety of chocolate bars, which range from 47% cocoa to up to a whopping 90%. As well as this, all of their products are fair trade certified, organic and non-GMO.