V2food, an Australian plant-based meat manufacturer, has acquired US-based plant-based chicken startup Daring Foods. This move aims to enhance the growth of plant-based protein products and accelerate innovation in the sector.
The acquisition, which includes a strategic partnership with Ajinomoto Co., Inc., is expected to rapidly scale production and expand v2food’s product range, including frozen meals. Daring Foods, which will retain its brand identity, brings strong market presence in the US, where its plant-based chicken products have gained popularity.
V2food operates with an asset-light model, relying on third-party suppliers for ingredient production. This flexibility allows the company to quickly adjust to market shifts. The acquisition of Daring Foods aligns with v2food’s goal of becoming a global leader in plant-based proteins, leveraging Daring’s established consumer base and v2food’s food technology.
Founded in 2018, Daring Foods has raised over $120 million in funding, including $65 million in its Series C round in 2021. The company’s plant-based chicken, made from soy protein, sunflower oil, and natural flavourings, will continue to be marketed under the Daring brand.