Good Protein announced a roughly $90.3 million deal led by SEMCAP Food & Nutrition on November 10 to expand a shake business now sold in more than 4,500 Canadian stores, according to the investor. The release describes an acquisition without disclosing how much is fresh company capital.
Good Protein sells plant-based protein powders and shakes through retailers and online. It began as a direct-to-consumer business, and Canadian Grocer reported distribution in more than 2,500 stores in October 2025.
That expansion followed an earlier decision to turn Costco down. Founder Edward Lalonde told Canadian Grocer he declined the retailer’s approach in 2022 because he doubted his production capacity. In a January 2026 Retail Insider interview, he said the business had since partnered with four Canadian manufacturers and launched in 70 Costco locations during 2025.
SEMCAP said the partnership would help develop new products and reach new markets. Figures are in US dollars, converted at November 10, 2026 reference rates.
SEMCAP said Lalonde and management would retain most of their pre-deal stakes and remain responsible for running the business.