MONTREAL — Functional chocolatier Mid-Day Squares introduces some significant product changes. Nick Saltarelli, co-founder and co-chief executive officer, discussed the updates in a video shared across the brand’s social media channels.
“The biggest change we are announcing is moving from two squares per pack to one square per pack,” said Mr. Saltarelli. “Why are we actually going to one square? The answer is quite simple. This is what you want. We have read the reviews. We have read the comments. It is so obvious that you want to be able to eat square at a time.”
In addition, Mid-Day Squares is reformulating its recipes, switching from organic chocolate, but remaining committed to sourcing fair-trade certified cocoa. The company removes ingredients such as yacon syrup, sacha inchi protein concentrate, hemp protein concentrate, prune juice concentrate, pumpkin seeds and gluten-free hulled oats from its formulations and adds ingredients including organic tapioca syrup, olive oil, organic pea protein, organic gluten-free flour, organic fava bean protein, organic carob protein, organic date syrup , organic cherry juice concentrate and vanilla extract.
The products remain non-GMO project verified, vegan, kosher, gluten-free and soy-free with no preservatives, said Mr. Saltarelli. He said the new recipes taste better, while reducing the sugar in each serving to 4 ounces from 5 grams.
“Mid-Day Squares is 100% committed to ultra clean label,” he said. “That’s something that doesn’t change.”
Finally, the company raises prices to control higher costs. A one-square pack will cost $2.49 to $2.99, Mr. Saltarelli said.
“Over the past three years, we’ve seen all ingredient costs go up,” he said. “Our packaging costs have continued to rise. Logistics is getting out of hand. This is literally the only way for us to stay in business. We don’t make more money by raising prices.”
The refreshed products will ship on June 1, he said. Products are available throughout Canada, including Walmart nationwide, and the United States, including Sprouts Farmers Market nationwide and Whole Foods Market in select regions.
The announcement comes on the heels of recent funding. Mid-Day Squares said in April it had raised $10 million in Series C financing led by Siddhi Capital. The new capital, the company said, will support expanded retail distribution and the construction of a manufacturing facility in the United States.