Dan Crosby, the founder and CEO of the Coachwood Group of Companies, a portfolio of businesses that includes CanadianProtein.com, is delighted to announce that the Coachwood Group of Companies has entered into a definitive purchase agreement (the “Purchase Agreement”) with BioSteel Sports Nutrition Inc. (“BioSteel”) to acquire the BioSteel brand and substantially all of its assets pursuant to the terms of the Purchase Agreement. This strategic move seamlessly aligns with Coachwood Group’s diverse brand portfolio.
Since its founding in 2009, BioSteel has been committed to delivering sports drinks, hydration mixes, and protein powders to consumers and professional athletes in major sports leagues. BioSteel’s electrolyte hydration beverages are meticulously designed to enhance hydration, facilitate recovery, and optimize athletic performance.
Crosby stated, “This brand is beloved and continues to serve professional athletes, but has evolved beyond that to cultivate a passionate and athletically inspired consumer base.“
After the transaction contemplated by the Purchase Agreement closes, BioSteel will continue to operate independently, serving the Canadian, U.S., and global markets under the Coachwood Group umbrella. The Coachwood Group eagerly anticipates the exciting prospects of integrating BioSteel into their existing portfolio.
Since its establishment in 2011, Canadian Protein has become a leading sports nutrition brand. With the anticipated addition of BioSteel’s sports drinks following the closing of the transaction, Coachwood Group is unwavering in its dedication to providing a comprehensive range of products for athletes of all levels.
Crosby’s goal for the brand is clear: “I am dedicated to continuing to deliver high-quality products under the BioSteel brand that everyone loves for years to come.“
The consummation of the transaction is subject to the satisfaction or waiver of a number of closing conditions set forth in the Purchase Agreement and is anticipated to close on or before November 30, 2023.
