Through the purchase, the subsidiary of Kraft Heinz will grow its sustainable coffee offering for Canadian consumers.
"Kraft Heinz Canada is continuously looking for ways to deliver superior quality, extensive variety, and finer products to Canadians," said Carlos Piani, President of Kraft Heinz Canada.
"We believe quality coffee starts at the source, which involves responsible sourcing and supporting the hard-working dedicated farmers at the origin,”
“The acquisition of Ethical Bean Coffee reinforces our pledge to the sustainable health of our people, our planet and our company.”
Founded in 2003, Ethical Bean Coffee is a Canadian company that makes 10% Fairtrade, certified organic coffee.
The Vancouver-based firm said that its “committed to social responsibility, global awareness and environmental accountability.”
Ethical Bean Coffee said that the acquisition will help the coffee brand reach a wider audience.
Lloyd Bernhardt, co-founder of Ethical Bean added: “We are proud of what Ethical Bean has been able to accomplish over the past fifteen years, building a brand with a solid reputation across North America for great tasting coffee, that is sustainably sourced.
“With Kraft Heinz’s expertise and scale, we’re confident that Ethical Bean Coffee will continue to deliver on that reputation to a much wider audience.”
The news comes shortly after New Zealand's competition authority approved Kraft Heinz’s acquisition of Cerebos Gregg's, an instant coffee and food business.
In May, the packaged food company reported that its first-quarter profit exceeded analysts’ estimates.