Meatless Farm was facing collapse due to competition in the vegan meat sector - but the new deal should keep the brand on shelves
Vegan meat brand VFC has announced it has acquired ailing veggie brand Meatless Farm – rescuing the company from administration.
VFC, which was co-founded by Veganuary co-founder Matthew Glover, saved the fellow Yorkshire plant-based brand in a deal worth £12 million in sales.
According to a statement from the company, it will retain the Meatless Farm brand, with its product range ‘diversifying its existing plant-based chick*n portfolio’.
The statement describes the acquisition of Meatless Farm as a ‘crucial milestone’ in its ‘growth strategy and its mission to provide more vegan products across retail and foodservice’.
It adds that this mission serves its ultimate goal of removing animals from the food chain.
Meatless Farm acquisition
In a statement sent to Vegan Food & Living, David Sparrow, CEO of VFC Foods spoke about the deal, which was financed from the company’s cash reserves.
He said: “We are delighted to announce this strategic acquisition, whilst being extremely mindful of the business’ challenges and the impact on the people involved.
“Meatless Farm has built strong consumer awareness, which aligns with our core values, and their exciting product portfolio enhances our existing range.
“By integrating both brands, we can utilise numerous synergies with valued customers and suppliers, thus driving innovation and extending customer choice.”
Co-founder, Adam Lyons, added: “Acquiring this remarkable brand is a testament to the hard work of the Meatless Farm team, who have done an exceptional job in developing and establishing quality products.
“Meatless Farm aligns seamlessly with our growth strategy, and we are confident in the underlying consumer demand for plant-based products.”
‘A more sustainable future’
And Matthew Glover, co-founder of Veg Capital and Veganuary as well as the vegan chick*n brand, also said he was confident about the future of the plant-based sector.
He said: “VFC Foods is well positioned to sustainably grow the Meatless Farm brand once the cost-of-living crisis eases, and the plant-based space has experienced further consolidation.
“Reducing our meat consumption is crucial for a healthier, more sustainable future and ..we will continue developing vegan alternatives which taste so good, they render the need to kill animals obsolete.”
Hungry for something plant-based and tasty? Why not try cooking this homemade Vegan Popcorn Chicken recipe?
Featured image © VFC