Vegan food company VFC has acquired Meatless Farm, a fellow plant-based meat brand, in a deal worth £12m in sales. The acquisition saves Meatless Farm from administration, after the company laid off most of its staff and hired restructuring specialists Kroll to oversee its financial management earlier this month.
Under the deal, the Meatless Farm brand will be retained and operate as a separate brand, but will be incorporated into VFC’s existing operations. This will allow VFC to diversify its product portfolio and reach a wider audience.
VFC CEO David Sparrow said: “We are delighted to announce this strategic acquisition, whilst being extremely mindful of the business’ challenges and the impact of the people involved.”
He added: “The Meatless Farm brand is a well-respected and loved brand, and we are confident that we can build on its success and help it reach its full potential.”
Meatless Farm was founded in 2018 and quickly became one of the UK’s leading plant-based meat brands. Its products are available in over 20 countries worldwide.
VFC was founded in 2020 by Matthew Glover and Adam Lyons, who are also the founders of Veganuary. The company’s products are made from soy and wheat protein and are available in the UK, Europe, and the US.
The deal is expected to close in the coming weeks.
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