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02/2026100%

Trubar acquired by ETi Gıda

UNITED STATES Food Processing / Food Products EV $100–350M

Context

Securing an additional gross annual revenue of $100m, ETi Gıda executed a definitive agreement to acquire a 100% equity stake in TRUBAR. Officially announced in February 2026 from Miami, this cross-border transaction commands a total enterprise value of $100–350M, structured entirely as an all-cash buyout with absolutely no deferred earn-out provisions attached to the share transfer. By integrating the fast-growing protein bar brand into its broader corporate ecosystem, the acquiring Turkish holding company establishes a formidable strategic bridgehead within the North American consumer market. The execution of this outright acquisition provides ETi Gıda with an agile, clean-label portfolio that directly aligns with shifting international dietary trends toward functional snacking. For TRUBAR, absorbing the manufacturing capabilities, operational expertise, and extensive corporate infrastructure of its new parent company immediately unlocks fresh avenues for accelerated international expansion beyond its domestic borders. Following the formal close of the share purchase agreement, the existing executive leadership and founding team of TRUBAR will remain firmly in place to direct day-to-day commercial operations, ensuring strict continuity in brand vision and product quality. This structural integration strategy allows the buyer to harness established localized consumer loyalty while deploying its vast industrial scale to optimize production efficiencies and expand the brand's global distribution footprint. The corporate consolidation merges an emerging disruptor with a legacy industrial operator, effectively positioning both entities to capture a larger share of the evolving worldwide nutritional marketplace. By finalizing this un-leveraged cash transaction, ETi Gıda definitively scales its corporate exposure to the next generation of better-for-you food segments on a global scale.

-> Deep-dive in AgriFood market trends

Target

Through an established commercial network encompassing more than 21,000 retail locations, TRUBAR operates as a specialized manufacturer of plant-based nutritional snacks. Founded in 2019 and guided by Chief Executive Officer Erica Groussman, the consumer goods enterprise focuses exclusively on developing better-for-you protein bars engineered with clean-label specifications. The product architecture completely eliminates dairy, soy, gluten, and sugar alcohols while maintaining a 100% plant-based ingredient profile. To address diverse dietary preferences, the company formulates its core portfolio around dessert-inspired flavor profiles designed for health-conscious consumers. The brand distributes its packaged inventory across high-volume grocery chains and specialized organic retailers, maintaining active vendor relationships with major American operators including Costco, Target, Whole Foods Market, Albertsons, and Erewhon, alongside direct digital distribution via Amazon. Furthermore, the product catalog recently expanded its demographic reach through the targeted launch of the TRUBAR Kids line. The enterprise scales its operations to disrupt traditional snacking categories by delivering functional nutrition without compromising taste or ingredient transparency.

Ent. Value

$100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (USD)

FREE VIEW
Year
Rev
EBITDA
EBIT
2025
100m
[members only]
[members only]
2024
$100–200M
[members only]
[members only]

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REFERENCES

Valuation range: EV $100–350M

Revenue range: $100–200M

EV/Revenue range: 1x - 3x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Trubar by ETi Gıda are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: trubar

FAQ

What transaction does this page cover?

This page covers ETi Gıda’s acquisition of 100% of Trubar, an American company specialised in Food Products, in 2026.

How was the acquisition of Trubar by ETi Gıda valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $100–350M band and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What was Trubar’s revenue at the time of the deal?

At the time of the transaction, Trubar reported annual revenue of $100m (FY 2025).

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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