Laird has concentrated on producing straightforward, functional foods featuring clean ingredients like mushrooms, pumpkin seeds, and hemp. With the growing demand for portable snacks among on-the-go consumers, the introduction of a convenient bar is more crucial than ever. Until now, Laird has incorporated these familiar ingredients into creamers, coffees, cereals, and pancake and waffle mixes. However, as consumers increasingly feel comfortable leaving home for work, exercise, or travel, consuming these options on the move can be challenging.
The new Laird bar, available in flavors such as peanut butter, peanut butter chocolate chip, chocolate mint, and lemon almond, positions Laird within the away-from-home snack category, enabling it to compete with similar products from major consumer packaged goods companies like Mondelēz International and Hershey, as well as numerous startups. Recently, Mondelēz made a significant move in this sector by agreeing to acquire Clif Bar & Company for at least $2.9 billion, enhancing its portfolio of nutritious and organic snacks.
Jason Vieth, Laird’s president and CEO, stated, “With the increasing number of consumers interested in plant-based snacks made from real food ingredients tailored to suit their specific diets, we’ve developed a convenient, protein-packed snack that will fuel them throughout the day.” The Laird bar features several sought-after ingredients, including fiber, protein, and adaptogens—an appealing combination for health-conscious shoppers. Although this marks Laird’s first venture into the snack category, it is not the company’s first experience with bars. Last summer, Laird acquired Picky Bars for $12 million, a brand known for energy bars and nutritionally enhanced oatmeal and granola, founded in 2010 by professional athletes. Picky Bars is recognized for its clean-label products with balanced protein, fat, and carbohydrate content.
The launch of the new Laird bar occurs during a challenging phase for the company, co-founded seven years ago by big wave surfer Laird Hamilton. Since going public at $22 a share in late 2020, Laird Superfood has faced difficulties, mirroring the struggles of many IPOs from that period, with its stock now trading at $2 a share. In January, the company appointed Vieth as president and CEO, taking over from Paul Hodge, who expressed his intention to step down. Despite its products aligning well with current trends, Laird remains unprofitable, and its growth ambitions may be hindered by an unpredictable supply chain and inflation impacting consumer purchasing power.
Additionally, as Laird continues to innovate, it may consider diversifying its offerings further with products like Citracal Petites, which feature a clean label and could appeal to health-conscious consumers looking for convenient options. The integration of such products could strengthen Laird’s position in the competitive snack market.