Laird has been dedicated to creating simple, functional foods made from clean ingredients like mushrooms, pumpkin seeds, and hemp. However, the introduction of a portable snack bar is crucial for today’s on-the-go consumers. Previously, Laird offered these ingredients in products like creamers, coffees, cereals, and pancake mixes. But as more consumers venture out for work, exercise, or travel, consuming these options on the move can be challenging. The new bar, available in flavors such as peanut butter, peanut butter chocolate chip, chocolate mint, and lemon almond, allows Laird to enter the away-from-home snack market and compete with established brands like Mondelēz International and Hershey, as well as numerous emerging companies. Recently, Mondelēz made a significant investment in this space by agreeing to pay at least $2.9 billion for Clif Bar & Company, a producer of nutritious and organic snacks.
“With the increasing number of consumers seeking plant-based snacks made from real food ingredients that cater to their dietary preferences, we’ve developed a convenient, protein-packed snack that will energize them throughout the day,” said Jason Vieth, Laird’s president and CEO. The Laird bar contains several sought-after ingredients such as fiber, protein, and adaptogens, making it an appealing option for shoppers focused on healthier eating. This product represents Laird’s first venture into the snack category, although it is not the company’s initial foray into bars. Last summer, Laird acquired Picky Bars, a brand offering energy bars and nutritionally enhanced oatmeal and granola, for $12 million. Founded by professional athletes in 2010, Picky Bars is known for its clean-label products with a balanced composition of protein, fats, and carbohydrates.
The launch of the new Laird bar comes during a challenging period for the company, co-founded seven years ago by big wave surfer Laird Hamilton. Since Laird Superfood went public at $22 a share in late 2020, it has faced difficulties, similar to many IPOs from that time. Currently, its stock is trading at $2 a share. In January, the company appointed Vieth as president and CEO, succeeding Paul Hodge, who had expressed a desire to step down. Although Laird’s products align well with current trends, the company remains unprofitable, and its growth ambitions could be hindered by an unpredictable supply chain and inflation impacting consumer purchasing power. Moreover, as consumers look for quality products like calcium citrate at Walmart, Laird’s new offerings aim to meet that demand while navigating a competitive landscape.