Earthproof Proteins, the Halifax maker of protein supplements derived from sources with low environmental impact, has been acquired by PS Brands, the investment vehicle of entrepreneurs Pat Murphy and Scott Berty.
Earthproof was founded in 2019 by business partners Liz Gosselin and Sarah Riley. The company makes novel products like protein powders made from crickets and algae, and protein bars made from crickets.
“From our first meeting with PS Brands, we were impressed with their commitment to environmental sustainability, the ecommerce expertise they brought to the table, and their considerable U.S.-based network," said Riley in a press release. "We knew they were a great fit to take the brand to the next level."
In the same release, Murphy and Berty said they acquired Earthproof because of the growth potential of the sustainable protein market, which observers estimate could be worth about $27 billion globally within five years.
Gosselin and Riley also co-own sustainability and communications consultancy R&G Strategic, which they founded in 2017 to help businesses develop socially responsible ESG — environmental, social and governance — initiatives and then use those projects for marketing.